Understanding Blockchain

Abstract

In last decade, we have seen the emergence of various computer technologies, each of which was disrupting and revolutionary. Some of these technologies paved the way for a newer generation of technologies to make our lives easier. Some of these technologies are in the category of invention, as they change and disrupt the entire ecosystem. There was a big wave that produced a lot of new billionaires and millionaires. What was available for just 2 cents in 2009 is now available for more than $15,000 US. Yes, we are talking about Bitcoin and Blockchain. Blockchain is the technology behind Bitcoin. Cryptocurrency and especially Bitcoin have certainly divided the world into two zones—one that supports cryptocurrency and the other that opposes it. The use of cryptocurrency has been such a craze that there are around 1400+ cryptocurrencies like Bitcoin in the market, having more than 17+ million accounts. People have raised doubts about the future of Bitcoin. A few countries don’t allow cryptocurrencies in their economies, but almost all of them have provided tremendous support for Blockchain. Bitcoin is just one of the finest implementations of Blockchain, but Blockchain is certainly going to stay and is currently transforming the way we trust across work and business.