Blockchain: It’s Not Just About Bitcoin

While Bitcoin gets all a attention, a blockchain record it’s formed on can be used for a far-reaching accumulation of applications, such as tracking tenure or a provenance of documents, digital assets, earthy resources or voting rights. Here are some of a ways blockchains could urge business and government.

Bitcoin picture from Shutterstock

Blockchain record is not only useful for formulating digital currencies such as Bitcoin or building new financial technologies. They can be used for a far-reaching accumulation of applications, such as tracking tenure or a provenance of documents, digital assets, earthy resources or voting rights.

Blockchain record was popularised by a Bitcoin digital banking system. But, essentially, a blockchain is only a special kind of database. The Bitcoin blockchain stores cryptographically signed annals of financial transfers, though blockchain systems can store any kind of data. Blockchains can also store and run mechanism formula called “smart contracts”.

What creates a blockchain complement special is that it doesn’t run on only one mechanism like a unchanging database. Rather, many distributed estimate nodes combine to run it. There



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