What is Blockchain? The Uses Of Blockchain? How to Get Blockchain

What is Blockchain? The Uses Of Blockchain? How to Get Blockchain

What is Blockchain? The Uses Of Blockchain? How to Get Blockchain

Blockchain simply means a highly secure platform that enables you to save and store all your data securely in a distributed database with updates happening in real-time.

Blockchain comes in a form public ledger (receipt) but it is unique because it is through online means and it has the capacity to reflect changes, updates and add-ons in real time without manual operation.

All data save and stored on Blockchain is really secure and cannot be interfered with. A cybercriminal cannot tamper with the programming and settings of Blockchain, therefore it means that nothing can be lost on the Blockchain platform.

The success of Bitcoin on hinged on Blockchain and after that many companies and financial institutions started tapping from the features and services which Blockchain offers. It is impossible to steal or corrupt Blockchain database because of its flexibility and real-time update.

Who developed Blockchain?

Blockchain was developed in 2008 by Satoshi Nakamoto. However, another anonymous group has claimed they invented Blockchain.

Surprising all those who claim ownership of Blockchain are pseudonym as their identity could not be ascertained or verified.

Before the coming of Blockchain, it was very difficult to secure financial transactions as there are many ways to cheat and steal.

However, Blockchain helps prevent people from using the same digital tokens more than once. Blockchain has eradicated ‘double spending’ with was the main menace threatening the existence of digital currencies.

Blockchain gives ico developers and other financial institutions the opportunity to run a decentralized but secure database which is immune to cyber stealing and hacking.

The good news is that Blockchain is free from government interference as it is not regulated or overseen by military, police or government regulatory agencies.

Blockchain is free and it can be used in many countries of the world hence making it a global platform. Blockchain has beamed light and indeed made it possible to have public ledger that can be used by everyone.

Author: Tech24insider