When we hear the word blockchain, what comes to mind? Bitcoin? Ethereum? It is valid to automatically associate blockchain technology to cryptocurrency, however, the application of this amazing decentralized technology knows no boundary.
Blockchain is a sophisticated algorithm created for cryptocurrency. Its a distrubuted ledger or list of all transactions across a peer-to-peer network. Data in a blockchain is stored in fixed structures called ‘blocks’. Blockchain allows the users to manipulate the ledger in a secure way and without the help of any third party.
By using blockchain technology in your bitcoin investment business or other online business, you can Reduce or eliminate the need for certain intermediaries, Automate manual tasks, It is secure as any interference with transactions on the blockchain is extremely difficult, and every participant in the blockchain can view any of the changes made.