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

[{"selector":"#anim-9e99bfde-7ef0-46bf-add9-ca43ea6b91f4","keyframes":{"opacity":[0,1]},"delay":250,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-02ba82b3-2678-48dd-b83d-8e1e831658f1","keyframes":{"opacity":[0,1]},"delay":0,"duration":5000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-69a0aaaa-8ce8-4fd9-ad2f-f8e4a11b248b","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

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.

[{"selector":"#anim-9896f904-e77b-4aba-880e-4a4d3ab17983","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c6d550c3-e0da-4063-b444-48a4f7d0cd7a","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

As new data comes in, it goes into a new block. Once the block fills up with data, it gets chained onto the previous block, which makes the data chained together in chronological order.

[{"selector":"#anim-f9ce6de9-c096-4d71-83c8-8bf6ce0cdcd9","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f328e114-dc50-4689-ad7f-b8d1e9bfe4d4","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fc20066f-d126-489a-9f24-ba826e9f19b1","keyframes":{"opacity":[0,1]},"delay":500,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

The first blockchain was created in 2009 by an anonymous person or group known as Satoshi Nakamoto.

[{"selector":"#anim-ac7b3c99-6657-4354-b815-72696562dc2b","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-052f26ea-cc79-43b6-b491-d22770e016a8","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4fabe792-c8e6-4391-8340-9f1bbfdf4b15","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

The original purpose of the blockchain was to facilitate digital transactions using Bitcoin, but the potential uses of blockchain technology quickly became apparent to developers and entrepreneurs in other industries.

[{"selector":"#anim-6a243938-d494-42ef-a014-90611b92731a","keyframes":{"opacity":[0,1]},"delay":500,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-618d17d4-f18e-468b-a497-ae1221e208f3","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-835cf1e4-749b-4055-a23a-fe0985b0f837","keyframes":{"opacity":[0,1]},"delay":500,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

Bitcoin

[{"selector":"#anim-38565f29-3db0-4823-899a-d921d9453ae5","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dcf54bfa-8271-4d18-9a9a-f6ee19983b97","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-95210d43-0efb-4ada-9dc3-b5cce8abec64","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

Although its price has fluctuated widely, bitcoin’s market capitalization now hovers between $10 billion and $20 billion.

[{"selector":"#anim-1a056969-5ea2-45b9-8deb-cb827c290489","keyframes":{"opacity":[0,1]},"delay":500,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-81350bce-f5d7-4ef8-aa94-69ab571a0a36","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-22288561-9446-4964-a5bd-5eef6de4afa6","keyframes":{"opacity":[0,1]},"delay":500,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

With the help of Acorns and other micro-investing alternatives, millions of people use blockchain technology for transactions, including remittances.

[{"selector":"#anim-83343667-6f2d-4ad3-8bf7-43b10857b89e","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-65a50269-8252-494b-992c-ee99e4c314ce","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

Swipe Up

[{"selector":"#anim-5f8019f9-9730-4aa4-921f-267ebfc28325","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1dd700a4-7933-45cc-8dfe-a9ec2ae37fdd","keyframes":{"transform":["translate3d(0px, -289.76616%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c29d49d1-0390-41f6-83bb-941e1a8566b0","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-93f52825-ff0b-4114-b3e1-b7b833fc42df","keyframes":{"transform":["translate3d(0px, 181.56378%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

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

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.

As new data comes in, it goes into a new block. Once the block fills up with data, it gets chained onto the previous block, which makes the data chained together in chronological order.

The first blockchain was created in 2009 by an anonymous person or group known as Satoshi Nakamoto.

How Did Blockchain Technology Come About, and Who Created It?

The original purpose of the blockchain was to facilitate digital transactions using Bitcoin, but the potential uses of blockchain technology quickly became apparent to developers and entrepreneurs in other industries.

Bitcoin

Bitcoin is the first and most well-known blockchain innovation. It was a proof-of-concept digital currency that launched in 2009.

Although its price has fluctuated widely, bitcoin’s market capitalization now hovers between $10 billion and $20 billion.

With the help of Acorns and other micro-investing alternatives, millions of people use blockchain technology for transactions, including remittances.

Swipe Up

for more finance, business, and real estate advice

Read More