Deep Dive - Trends in Blockchain Technology and Cryptocurrencies
A blockchain is a type of distributed ledger. Instead of just relying on one database, a blockchain is spread between different people in a similar way to how bit torrents work. Once data is written to a blockchain, it’s stored there forever. It effectively makes it a trustworthy and (in theory) a hack-proof way to store inter operable data. Although Blockchain technology has been around since 2008, until recently, it was a niche technology. In the past 2 years, blockchain h