Blockchain technology has developed rapidly over the past few years, with its use in the cryptocurrency industry the primary way it is utilised.
The technology at the heart of Bitcoin and other digital currencies, blockchain is an open, distributed ledger that records transactions between two parties efficiently and in a verifiable and permanent way.
The ledger can also be programmed to trigger transactions automatically.
How Does Blockchain Work?
Each user on a blockchain can access the entire database and its complete history. No single party controls the information or data.
All users can verify the records of its transaction partners directly, without an intermediary.