In most cases it has become more difficult to prevent and track hacking and fraudulent act as people have moved more of their lives online. But certain innovations, such as blockchain, show promise for cracking down on dishonest behavior, insecure transactions, contractual breaches and even unintended human and computer errors.
The Blockchain technology that powers bitcoin can be difficult to comprehend. It is a digital ledger platform that verifies identities and transactions through a secure digital network of records. It’s especially secure because it generates multiple records stored in a decentralized manner.
In fact, blockchain empowers people to trade and transact more, because they can be sure who they’re trading with, as well as the origins of the thing they’re trading, dating back to its inception. They can even generate new things to securely trade, from their time to virtual cats.
Bitcoin and other cryptocurrencies are just the beginning of how blockchain can be used for transactions and tracking.
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