Bitcoin is popularly known as one of the earliest cryptocurrencies that constituted the worldwide peer to peer payment system that is known today. Bitcoin is a digital asset that can be used as a medium of exchange, and all transactions are secured and carried out by fulfilling specific cryptographic conditions. Therefore, they are considered more secure in comparison to traditional FIAT currencies. Bitcoin is developed on a decentralized system called Blockchain. Blockchain is a system that is self-regulating and, therefore, there is no requirement for a central monitoring system. The fact that this system is decentralized reduces its probability of failure as there is no single point of control. A…
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8 Facts You Didn’t Know About Blockchain
The term Blockchain arises when we hear about cryptocurrencies like Bitcoin Blockchain records financial transactions between concerned parties. It is decentralized in nature and that means that no single authority is in charge of it, but the data remains distributed across a peer-to-peer network of computers called nodes. Because of its security, blockchain application development company is in demand. But, Blockchain is not just about keeping track of cryptocurrency transactions but there are many companies that are utilizing this revolutionary technology for some unique solutions. In 2017, when the technology was said to be its infancy, the market size for Blockchain was $ 708 million. But, in 2024…
