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

You want to be fully educated on the different terms and technology before investing thousands of dollars into anything. Today, we will explain blockchain technology and discuss some of its applications. 

At its most basic level, 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. 

The first blockchain was created in 2009 by an anonymous person or group known as Satoshi Nakamoto to facilitate digital transactions using Bitcoin. 

How did Blockchain Start?

The blockchain is used in a variety of applications such as: the sale and storage of cryptocurrency and non-fungible tokens (NFTs), data storage, casino and gambling businesses, money transfers, and logistic and supply networks.

Where is the Blockchain?

Experts praise blockchain technology for its security and ability to be decentralized. Data is spread across a network making it more secure than traditional databases.

Is the Blockchain secure?

Overall the blockchain is still in its infancy. Its scalability hasn't been tested. In addition, it can be expensive and it's not energy-efficient. With time, blockchain technology will become more efficient and accepted.

What are the cons?

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