TechNews Writer
Feb 27, 2023
Blockchain is the technology that has the potential to be the next “big thing”. It will have an impact similar to how the internet had across all industries many years ago. A blockchain is essentially a digital distributed ledger where transactions are stored across the entire network of computer systems. It is called a "blockchain" because it consists of blocks, each of which contains a number of transactions and the cryptographic hash of the previous block, forming a chain of blocks that cannot be changed or interfered with. As a result, data storage and transfer are transparent and secure. Cryptocurrencies are one of the most well-known domains where blockchain technology is used. Blockchain technology serves as the foundation for Bitcoin, the first and most well-known cryptocurrency. Although cryptocurrencies are the most well-known use of blockchain technology, it also has potential applications in a wide range of other fields, including banking and financial services, supply chain management, and fashion industry.
Appears in
2023 - Spring - Issue 6