Digital Crew

Blockchain technology is a decentralized and distributed record book system that allows several participants to maintain a shared database without needing a central authority. Initially introduced as the underlying technology behind Bitcoin, a digital cryptocurrency, its potential applications extend far beyond cryptocurrencies. In other words, a blockchain is a chain of blocks containing a list of transactions or data. These blocks are cryptographically linked, forming a consecutive and inflexible record of all trades or data stored on the blockchain. The word blockchain has recently been used in many social and corporate conversations, and everyone has heard about blockchain technology. Still, most people have yet to learn what it means. To clearly explain what blockchain technology means, give us a brief analysis of how the transaction of money has evolved. Historically whenever people used to exchange valuable items, there were mediators whose sole purpose was to record the authent...