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What is Blockchain
Blockchain is the underlying technology that powers each crypto. It doesn't belong to any nation or company and operates independently from platforms where you can buy and sell crypto, like PayPal. The most famous example is the Bitcoin blockchain, which keeps a record of every time someone sends or receives bitcoins.
It has a security system
Blockchains store transaction records using very complex code, or "cryptography" which makes it very difficult to corrupt or change.
It's decentralized
Each blockchain runs on a network of multiple computers around the world rather than just one central computer, making it even harder to hack. This doesn't mean crypto owners are invulnerable to theft. Holding crypto is like the digital version of having cash in your pocket and it's just as susceptible to getting lost or taken.
Limitless potential
Blockchains can be used to store or send any digital asset, whether that's bitcoins, the selfies in your phone, or even the next great novel saved on a Microsoft Word file. In an increasingly digital world, blockchains could change how we move and manage so many things -- crypto is just the beginning.
Worth searching online to learn more about blockchain
- How does a blockchain work?
- What are the different types of blockchains?
- Blockchain beyond crypto
Last modified 5mo ago