Blockchain Made Simple: Why is Blockchain Revolutionary?
Blockchain Made Simple:
Blockchain is one of the hottest sectors in the market, yet few investors really understand what the blockchain is, and how it works. This is why DMG Blockchain Solutions is presenting Blockchain Made Simple. Hosted by Dan Reitzik, Blockchain expert and CEO of DMG Blockchain Solutions; Blockchain made Simple is a series of fun, easy to digest videos, answering questions like What is Cryptomining? How is Blockchain used in Retail? and How are Bitcoins created and earned?
Why is everyone saying Blockchain is so revolutionary?
Blockchain is the underlying technology that allows Bitcoin and cryptocurrency to exist. It can be compared to an accounting ledger that is digital and viewable by anyone.The revolution enabled by blockchain technology is the result of the combination of the following;
- Security – the blockchain transaction records cannot be altered, the security of all blocks which were mined before increases with each new block.
- Transparency – the blockchain contents can be viewed by anyone.
- Timestamped – each blockchain transaction has a sequence number that makes it unique and every subsequent entry depends on the first entry.
These characteristics are common to all blockchains.
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