Blockchain is a distributed digital ledger that records transactions that automatically encrypt every 10 minutes in a process called "hashing." Each hash completes the latest block in the blockchain. This technology was originally intended to secure Bitcoin, and later other cryptocurrency transactions, but its adoption and application are expanding.
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This ability promises to vastly improve product integrity and financial integrity and security in the digital marketplace. You could safely say we are entering an era of the Internet of trust.
The rest of this article will discuss what is meant by some of the terminologies...
The possibilities of blockchain are growing daily. It seems as-fast-as humans can fathom one new use, another joins the party.
Blockchain was originally designed for Bitcoin to be an incorruptible digital ledger, programmed to record financial transactions. As recently as 2015, The World Bank estimated that in the US alone, people transferred $430 billion.
With blockchain technology, middlemen are being cut out of the picture while security is significantly increased. Finance was one of the first use cases of blockchain technology but that is rapidly changing.
Today there are hundreds of cryptocurrency coins available and just as many uses, w...