What is Blockchain Technology?  Is It Secure and Viable in 2022 and Beyond?

Even though blockchain technology has been around for more than a decade, people have only recently noticed it because of its potential uses in various industries.

Let's talk about blockchain technology. Is it secure and viable beyond 2022?

What is blockchain?

A blockchain is a type of shared database that differs from a typical database. It stores information; blockchains store data in blocks linked together via cryptography. 

How did Blockchain technology come about?

Satoshi Nakamoto is the anonymous group or person that created the first blockchain in 2009. It was originally designed for Bitcoin transactions. 

How does the algorithm work?

The algorithms work through proof of stake or smart contracts. Some are concerned about its scalability. It can only process 4.6 transactions per second compared to the 65,000 Visa can handle.

Is the technology secure?

The decentralized foundation makes the blockchain secure. Hackers are unable to target and manipulate a single node.

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