10 Facts About Blockchain

  1. Bitcoin is a cryptocurrency that uses blockchain technology, other cryptocurrencies use their own versions of blockchain.
  2. Blockchain is a technology that needs the internet to work.
  3. Blockchains can be public (like the internet), or private (like the intranet).
  4. Blockchain is part record-keeping, part network protocol.
  5. Records stored on blockchain cannot be modified or deleted, only added on to it.
  6. Blockchain relies on multiple computers in a peer-to-peer network to work, thereby eliminating single points of failure.
  7. Blockchain uses consensus rules to ensure the network agrees on the records.
  8. Blockchain uses cryptography to ensure the integrity of the records and network.
  9. Blockchain isn’t the solution to all problems.
  10. Just like with the internet, there will be jobs that become obsolete. But, there will be new careers that we haven’t even dreamed up yet that will be created as a result of blockchain.

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