Blockchain technology - known as the chain of blocks, is used to store and send information about any online transactions. This blockchain is arranged in the form of consecutive blocks of data. One block contains information about a specified number of transactions. When it's full, another block is created, creating a chain. On average, a new block appears every 10 minutes, in which information about various transactions is sent. This includes commercial transactions, electricity market, transactions regarding shares or stocks, and also currency trading transactions. It all takes place outside the system functioning for centuries - without any involvement of public trust institutions (including financial institutions).
Thus, Blockchain is a decentralized and distributed database in an open-source model, in a peer-to-peer network (a communication model that provides all hosts with the same rights).
This technology does not have any central computers and a centralized storage location. The blockchain's purpose is to maintain a joint and collective accounting book of transactions in digital form.
The blockchain cannot be faked. Blockchain transactions stored in the blocks are irreversible, and completely safe. All data is almost completely resistant to counterfeiting and various manipulations.
Mastercard, has joined the ID2020 Alliance, a global company whose main goal is to create a digital identity for every person in the world by 2030. According to the company this would improve quality of life.
TradeLens is not slowing down as, some time ago, another large member joined the platform. In what way will blockchain technology help the platform solve the problems associated with the shipping industry?
Ledgers are the foundation of accounting. They were based on wooden, clay, and stone tablets and were used commonly, but then computers got invented in the 1980s and 1990s, and paper records were digitized, often by entering data manually.
During the qualifying match (between Estonia and the Netherlands) for the European Championships, the Royal Dutch Football Association tested a new solution based on blockchain technology. How was the experiment conducted?
Experts present on the BlockShow Asia 2019 conference gave their opinions about blockchain, discussing what it represents and what advantages this technology might provide when it comes to national economies or corporations. Let's see what they had to say.
No one can deny that blockchain is a kind of technology that is at a premium. Its potential is used in a great number of industries. The food industry, which has recently developed transparency in food supply chains, is one of them.
Samsung SDS started a partnership with Tech Mahindra and Pega company in order to jointly create a new blockchain-based solution targeted at many different industries. The companies want to combine this technology with the digital process automation. What will come out of it?
Who would have thought that blockchain technology could be applied in the theater industry as well. It turns out that it is a powerful weapon in the fight against an increasing number of fake tickets. The wave of fraud can finally be tamed!
Amazon is trying to become popular in every possible industry. And, apparently, it is unlikely that the company is going to slow down over the coming years. One of the largest global trading companies is now looking for an engineer that would join the blockchain team.
In the course of human history, blockchain became a breakthrough technology. Since the creation of bitcoin, people have been looking for a different use for a distributed ledger apart from it just creating new crypts. The invention of the Bitcoin-independent blockchain network - Ethereum network turned out to be a breakthrough in the so-called distributed technology
On July 18, Geoffrey S. Berman (US public prosecutor in the southern district of New York) issued a press release in which he announced the arrest of Hugh Brian Haney (suspected of drug trafficking in the darknet).
Cryptocurrency wallets are used to store, send and receive digital currencies. The safest solution is to have a hardware wallet - if you own larger amounts of assets you should store them here. However, many mobile wallets also have a high level of security and provide users with additional options. Below there are five wallets that are worth being considered.
According to the social media giant, the world needs a reliable digital currency. Will Libra coin meet these expectations? Can Facebook's cryptocurrency become 'Internet money' and, moreover, will its creation be a step to freedom or slavery?
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