Bitcoin, Cryptocurrency.  & Blockchain: What’s driving the craze?
5 mins read

Bitcoin, Cryptocurrency.  & Blockchain: What’s driving the craze?

Bitcoin, Cryptocurrency.  & Blockchain: What’s driving the craze?

In this article, you will learn about blockchain cryptocurrency Blockchain applications, and much more so stay tuned with us.

What Blockchain is?

In Simple language, Blockchain is just like a database. Everyone can access it. Everyone is eligible to add data to the Blockchain. But no one can edit or delete it even the admin didn’t have access to delete data from the Blockchain.

It is fully private and secure. If a Blockchain application allows you to chat. It works like every message you send makes a new block on the internet and if you talk a lot. It will happen like millions of blocks if a hacker wants to see your chat he has to bypass millions of encryptions.

That’s why a hacker can’t do this because it is highly time consuming. At this time of technology Blockchain is one of the best Technology. It is very next level technology. After some time I hope this technology will lead the world.

Use Of BlockChain In CryptoCurrencies

CryptoCurrency when we hear this word the first thing that comes to our mind is Bitcoin. Bitcoin is very famous currencies in the world. Bitcoin is developed by Satoshi Nakamoto.

He also developed the first blockchain database. He also wrote a book named Bitcoin White Paper. Use of blockchain in crypto currency is just like a public bank. Where many people can send and receive money and they can track their transaction.

And here is the biggest difference: we can’t track any transaction of cryptocurrency. That’s why a lot of hacker’s and illegal dealers and users of dark webs use this to stay anonymous.

Is BlockChain Safe?

Well this is a little bit tricky question. And the answer is either Yes and Neither. Well Yes Because It is very complex and highly encrypted. And No because Hackers say “There is no system safe”.

At this time crypto currency is going to boom on its highest potential. And no one has the guts to hack the crypto currencies algorithms.

CryptoCurrencies are highly encrypted with cryptography and highly secure. That’s why bitcoin was going to cross $100,000 in the last few months. If it’s not secour then no one can invest in these types of currencies.

Is blockchain public or private?

Originally BlockChain is found for investors and businessmen type peoples but at this time block chain have its two faces one is private and second is public.

Private means no one can interfere in your data and work. For example: if you can send money through blockchain no one is able to see or monitor your transaction. That’s why hackers and other illegal workers are using blockchain for hiding their black businesses money.

And Public means everyone can use it easily and be able to do a lot of things. Like creating his own dark network like red room, Mariana web, The Fog, and The Primarch and much more. And When we hear this we feel very disappointed from those people. Who use that level of technology for their bad purposes.

Uses Of BlockChain At This Time:

At this time the block chain has a huge network of its technology. A lot of companies use block chain technology to stay safe. Like: Binance, Blockchain.com, MetaMask, Airbnb, Uber and much more. I am going to explain about Binance and how they use blockchain technology. And how they became the world’s one of the biggest forex trading platforms. Binance uses block chain technology for trading on cryptocurrency.

People use Binance as a trading platform and a lot of people earn very well from Binanc. They provide almost all types of crypto currencies to trade. And that’s how they became one of the biggest forex trading platforms. Block chain is complicated to understand because it is a decentralized P-2-P network.

Conclusion:

There are a lot of facts which clearly tell us the digital market is boosted by block chain and people are crazy to buy and sell bitcoin. Actually after 2019 bitcoin got boosted when 1 bitcoin came back from $100000 value. At this time there are a lot of digital currencies available in the market Like Bitcoin, Litecoin, Monero, USDT, and bitcoin cash. Bitcoin is the very popular digital currency.

And if we talk about other uses of the block chain. It is highly secour and complicated to decode, that’s why it is very popular. A lot of big companies like Google, IBM, HP, and Apple, are working with blockchain. And there is a very high scope in blockchain developer if you want a job.

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