What Is Blockchain? The Technology That Underpins the Cryptocurrency Industry



Blockchain Technology Explained

Key Features of Blockchain Technology

  • Constant: Blockchain networks are available 24 hours a day, 7 days a week, all over the world.
  • Fast: Transactions are sent peer-to-peer directly from sender to the receiver without friction from one or more intermediaries.
  • Secure: A blockchain’s distributed network of nodes provides collective security against attacks and outages.
  • Inexpensive: Blockchain systems run at a reduced cost due to the lack of centralized, rent-seeking intermediaries.
  • Tamper-Proof: Data is transparent and cannot be changed once it is timestamped to the ledger, preventing fraud and other nefarious behaviour on the blockchain. Similarly, anyone can observe public transactions.

Industries that Benefit from Blockchain Networks

Concerns Around Blockchain Technology




Patronize of Animals and Environment

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

NFTs and the gamification of games


Evertwine: The NFT First Collection

Oddz Finance: Newsletter

Latin American week on Hodl Hodl

21 FEB — 4 MAR | SnapEx Weekly Update

🤔Curious about earning #cryptocurrency the most promising way?

Introducing $Beta.Fork

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Patreon Token

Patreon Token

Patronize of Animals and Environment

More from Medium

What is Cryptocurrency? Cryptocurrency Security: 4 Tips to Safely Invest in Cryptocurrency

In 2022, I plan to make $1 million dollars with crypto

A Random Walk Along Blockchain Avenue | Section 1

Things You Should Know About: Blockchain

<a href=’https://www.freepik.com/vectors/technology'>Technology vector created by vectorpouch — www.freepik.com</a>