Or the growing demand for cryptocurrencies. This cryptocurrency uses a technology called blockchain. What is blockchain? Simply put, blockchain is a cryptocurrency or the underlying technology for cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), or other cryptocurrencies. Therefore, in this article, we will discuss blockchain. Start with the understanding, benefits, and main pillars of blockchain. So, please read this article carefully so as not to miss any information. What is blockchain? Blockchain itself can be understood as a data storage technology that utilizes cryptographic principles. Judging from the name, blockchain consists of two words, namely group (block) and chain (chain). Therefore, a blockchain can be explained as a series of blocks that are connected to each other and contain digital information.
Currently, blockchain is more commonly
Used for cryptocurrency transactions. Nonetheless, there are many areas where this blockchain technology can be used. Blockchain advantages Broadly speaking, blockchain has advantages in security, efficiency, and speed. The following is explained from the following ws data three aspects: Improve efficiency and speed First, the use of blockchain can improve the efficiency and speed of transactions. The traditional transaction process is time-consuming, inefficient, and error-prone. By using blockchain, transactions will be more efficient, faster, and errors that occur can be minimized. good security system .
The next advantage is the security
system of a good blockchain. Blockchain always creates a record of transactions that cannot be changed by anyone because it has gone through the hashing process, thus minimizing fraud and unauthorized activities. Reduce expense Blockchain can reduce the costs incurred because each transaction does not go through a third party, so there is no need to pay a third party. The system Optin List is more transparent Finally, since blockchain can store a history of transactions that have been made, and that history cannot be changed, it makes every transaction more transparent. 3 Main Pillars of Blockchain Blockchain technology has three main pillars, including decentralization, transparency, and immutability. Here is an explanation of the three pillars: Decentralization The first pillar is decentralization.