'What is Blockchain? How Does It Work? Why Do We Need It?' blockchain tatum_io
It's a fairly new technology that has proven to benefit many companies in different industries. It is relatively easy to understand, although it can seem difficult for beginners. This article will explain how it works and why it’s so revolutionary.Blockchain is a decentralized and public information database. It's the technology that powers cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Simply put, a blockchain is a database with additional functionalities.
Once data is added into a blockchain ledger, it cannot be changed or erased. It will remain in place permanently. This is just another disaster! Because your account is managed by a centralized bank, they have access to your funds. "Don't we have legislation, security, and whatnot to protect our money?" you may ask again. They cannot secure your money completely, and you must waste years chasing after courts. What do we do now?Distributed Ledger Technology
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