Tuesday, January 31

Month: January 2022

Importance of Blockchain in CryptoCurrency
Crypto, Education

Importance of Blockchain in CryptoCurrency

What is blockchain technology?A blockchain is a distributed database that maintains a continuously growing list of records. Each record, called a block, contains an index to the previous block and transaction data (generally represented as a Merkle tree root hash).It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way." This allows the participants to verify and audit transactions inexpensively.Why is blockchain important in the crypto industry?Blockchain is a public distributed ledger that stores data across its network. It can record transactions between two parties efficiently and in a verifiable and permanent way. Data on the blockchain is not controlled by any central authority, meaning users h...