Security in the blockchain
š” A blockchain represents pieces of digital information (Ā«blocksĀ») that are stored in a public database (the Ā«chainĀ») and linked using cryptography. One reason blockchain exists is to prevent Ā«double spending.Ā»
šThis means blockchain makes it almost impossible to use the same currency on two separate transactions, though cyber criminals have tried to find ways around this.
Each Ā«blockĀ» contains three basic pieces of information:
ā
ā Transactional information, such as the date, time and amount of a purchase;
ā
ā The identities of all parties involved in the transaction;
ā
ā A unique algorithmic code or hash that distinguishes the block from all others.
šNew blocks may be added to a blockchain any time a new transaction takes place. When the transaction is validated, it is given its identifying code that is unique from all other blocks in the chain.
Thus, everything is secureā. The Banxe financial instrument is created on the EOS-blockchain and all your transactions are completely safe! š”
We create the financial future and we invite you to join us!
Banxe. Not a bank. More.
https://banxe.com
#Banxe #crypto #Finance #bitcoin #DeFi #Finance #blockchain #cryptocurrency
