Blockchains are the critical infrastructure underlying cryptocurrencies. The common feature of those distributed ledgers is that the sequential updating of a cryptographically secure, verifiable transaction record among a network of peers all operating under a specific set of rules enforced through the software itself. This record is owned and operated in common by anyone anywhere.
While research in shared ledger technology goes back decades, the arrival of the Bitcoin blockchain introduced the primary distributed ledger technology that was thoroughly decentralized and immune to censorship, seizure and collusion.
Blockchain technology, in its various manifestations including the Ethereum blockchain et al., is ultimately a worldwide consensus system — i.e., it allows people to coordinate and cooperate around a neutral source of knowledge without trusting one another or a central administrator. the utilization cases are wide-ranging, from finance and energy trading to produce chain management.
At Cointelegraph, we are chronicling the evolving blockchain industry. Is it revolutionary or overhyped? Or both? Will it become the answer to securing trust in finance and global trade? what is going to be the speed of blockchain transactions within the coming years?
Stay tuned to search out out.
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