Blockchain

Block chain is a database that is shared across a network of computers. It stores a record of transactions that has been made in a digital ledger. Once a record has been added, it is very difficult to change since all the computers, or "nodes" must verify the trade. This creates a new level of digital security, since in order to change a ledger, a computer would need to be stronger than all the other computers on the network. One of the most popular uses of blockchain is Bitcoin. Bitcoin is an online form of currency without a single administrator; bitcoins can be sent from user to user using blockchain and still be secure. As this technology grows, we will see the implementations more and more in our daily lives. For example, our properties, such as houses, cars, patents, shares, etc., can be turned into smart property with the ability to access these things digitally. Registration can be stored on the ledger along with others who have access to these things, so a smart key can be be used to access all of this. This decreases risk of fraud and improves safety. In businesses, it also increases efficiency. Payments and data are able to be transferred much quicker while being more secure. The security of a peer-to-peer network takes power from big authorities and transfers it to the people. It brings equality in the digital and non-digital worlds. It is pushing the movement of the world towards democracy.


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