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In early 2009, a cryptocurrency (digital currency) known as Bitcoin was launched and, since then, it has been leading a significant revolution in virtual currency. The main ingredient of Bitcoin’s success is a system of recording or storing information that makes it almost impossible to hack or change for a long time: blockchain technology.
In short, the blockchain technology itself is a securest database that makes it difficult to cheat the system. What makes it so important is that this is not a conventional database: the system works like a logbook (digital ledger) but is inviolable, “unbreakable,” and quite efficient.
The technology is so interesting that it soon became clear that the Blockchain could also be used in other systems of the most diverse types: financial, commercial, government, managerial, electoral, and any system where we need to store or perform securest transactions. There is no doubt that financial banks, insurance companies, forex or stockbrokers, security companies, government departments, and many other institutions are being attracted by this latest and secure technology.
Full Article Source: https://www.temok.com/blog/what-is-blockchain-technology/
