The Importance of Blockchain Technology
Blockchain is a revolutionary technology that allows digital information to be recorded and stored in a way that makes it extremely difficult to be altered or hacked. Blockchain is a block-based, cryptographically secure, shared/public ledger. This technology offers a wide variety of benefits and uses. In recent years there has been extensive research and development to better apply blockchain technology to various fields and professions. Some examples of areas of research and development that have shown a lot of potential include but are not limited to business, government, healthcare, law, education, banking, and countless other fields. Most would agree that the best feature of blockchain is its security. As mentioned above, blockchain is a shared/public ledger. What makes the shared/public ledger secure is the fact that in order to alter the ledger, all of the nodes on the network must be in consensus to do so. Fraud is impossible because there is no way for a single entity ...