Are you familiar with blockchain bitcoin? You may be one of the many who have never heard of it before, so we will learn together. Blockchain and cryptocurrency are terms that I only recently learned about. The travel industry, financial world and real estate use this technology worldwide. Furthermore, the financial world continues utilizing it because of the security it provides.
There is so much information available about how the blockchain actually works. Fortunately, you do not have to understand it to take advantage of it. Since I am new to these concepts, I love learning from whatever I can find.
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Blockchain Bitcoin
See how the transaction travels through a secure network and is then approved. This insures not only security but transparency as well.
What is Blockchain?
So what is blockchain? The more I learn, I find that blockchain is a very secure way of storing digital information. It remains secure because no one has access to personal information, so it is impossible for hackers to manipulate transactions and steal information. Did you know that is stored in a secure environment and cannot be changed.. In addition, the system is decentralized, and requires verification by a network of computers. I am amazed to learn that each transaction is carefully checked and verified for accuracy and safety.
Satoshi Nakamoto. is the person who supposedly came up with this idea. He refers to the technology as a “new electronic cash system that’s fully peer-to-peer, with no trusted third party.” Whether he is real or imaginary, I do not know.
Benefits of Blockchain
- Records are public and verifiable – data stored in blockchain
- Transactions safe not corrupted
- Parties involved must consent to transaction
- Main register with distributed network of registers
- Hosted by millions of computers at once-accessible to anyone
- Ultimate in security and transparency
- Transactions can be faster
Security with Blockchain
It is well known that the internet is the haven for hackers and cyber criminals. It is so important to keep our personal information and financial transactions safe and secure. And, the answer to keeping your information and transactions safe is blockchain.
The Future of Blockchain
Blockchain technology is being widely used in healthcare, real estate, banking, tracking criminals, the voting system and much more. Fraud is being eliminated because transactions are more transparent. According to an article in Forbes July 18, 2019 by Jim Blasingame “Blockchain technology isn’t replacing trust – it’s the future of trust. Because you and I require it, even in-especially-in the Digital Age…”
Finally, for the past three decades blockchain has proven to be successful and safe. It makes sense that we take advantage of this technology and keep our transactions safe and secure. Blockchain is definitely the future for securing technology.
Since there is so much to learn, please bookmark this page and refer back often.
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