Blockchain and cryptocurrency the next big thing? What you need to know.

BLOCKCHAIN TECHNOLOGY

Iykeman Biz!

 At its most basic, a blockchain is a list of transactions that anyone can view and verify. The Bitcoin blockchain, for example, contains a record of every time someone sent or received bitcoin.

Cryptocurrencies and the blockchain technology that powers them make it possible to transfer value online without the need for a middleman like a bank or credit card company.

What you need to know?

Some advantages of blockchains?

  • They’re global, which means that cryptocurrencies can be sent across the planet quickly and cheaply.
  • They increase privacy: Cryptocurrency payments don’t require you to include your personal information, which protects you from being hacked or having your identity stolen.
  • They’re open: Because every single transaction on cryptocurrency networks is published publicly in the form of the blockchain, anyone can scrutinize them. That leaves no room for manipulation of transactions, changing the money supply, or adjusting the rules mid-game. The software that constitutes the core of these currencies is free and open-source so anyone can review the code.

would you consider this emerging global technology? Like every new and emerging innovation, it comes with risk and huge benefits. So it’s advised you invest minimal amount you could comfortably loss without much second thought. However many whales are cashing out big time on weekly basis especially the early investors in Bitcoin the world leading cryptocurrency.

Published by Iykeman

Iykeman Online is a one Stop Blog. We are for education, enlightenment, and advice on all ranges of issue. We also carry contemporary National, Regional and Global trends. We are for media and celebrity news and sports.

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