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[infographic] Blockchain Technology


[infographic] Blockchain Technology

Blockchain is a digital, centralized ledger of all transactions across a peer to peer network. Because participants confirm the transactions without a central certifying authority, it is transparent and incorruptible. The technology is like the internet in that it has a built-in robustness. By storing “blocks” of information that are identical across its network, blockchain cannot be controlled by any single entity and has no single point of failure. Blockchain was originally invented for digital currency (cryptocurrency), but the technology has a wide array of uses that are just starting to be discovered.

Bitcoin is the most widely known form of cryptocurrency that utilizes blockchain to keep an open record of every exchange. Blockchain isn't a single technology, rather it's an architecture that allows disparate users to make transactions and then creates an unchangeable record of those transactions. 

Fullestop presents the infographic where you can see about Blockchain Technology and its benefits.

blockchain-technology