What Is Blockchain Technology?

Blockchain technology is a way of managing a ledger of records in a decentralized manner. It means that everyone participates in maintaining and updating the ledger, which makes it practically impossible to falsify. While Blockchain technology is a good solution to the issue of centralization, it’s also very inefficient and slow, therefore it should only be used if the problem at hand is indeed centralization.

Blockchain Illustration


Tags

bitcoin, blockchain, cryptography, decentralised, decentralised finance, etherium, nodes, private, public


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