Blockchain technology

Disadvantages of Blockchain Technology

1. Extremely Volatile 2. Crime 3. Problem for Not Tech Savvy

Advantages of the Blockchain Technology

1. Zero Percentage of Fraud 2. No Government Interference 3. Instant Transactions 4. Improved Financial Efficiency

What is Blockchain?

Chain of blocks that contains information

1991

Digital timestamps like a notary - not possible to backdate them or tamper them

Why do we need it?

Once the data has been recorded inside blockchain it becomes very difficult to change it

Cryptocurrency

This is a digital or virtual currency that uses cryptography for security.

A blockchain is a way of storing data so that cannot be changed anymore. How else can you call it?

This is called immutability and a very useful feature when dealing with very important data like bank records or transactions.

How can we secure our data?

Using one of the following technologies 1) Hashing 2) Proof-of-work 3) decentralization (P2P)

2009 Bitcoin by Satoshi Nakamoto

digital cryptocurrency

A cryptocurrency is difficult to counterfeit because...

this security feature