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Posts Tagged: ethereum

Bitcoin, Ethereum, and Litcoin (Blockchain Explained)

What is Blockchain Technology? Blockchain technology is a beautiful thing. It is a software that uses a wide network of computers and servers as nodes along an infinitely expansible network. The nodes allow the verification of transactions to occur and be validated over and over and over again across a huge network. It's the same thing as if a guy (Bob) gives a girl (Sally) $1 and the whole world sees it happen and keeps a record of it. For this reason crypto-currency doesn't have to be backed by gold or silver or anything else. So long as the computers stay running, there is a trail of verifiable occurrences that any give transaction on the network has taken place. The beauty is that the verification can take place over and over again, building the credibility further of the transaction history. ... Read more