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 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.

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