Blockchain | the Backbone of Bitcoin and other Cryptocurrency

in #blockchain • 7 years ago

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The Blockchain is trending everywhere, a technology which was invented in 2008 as a core backbone method for Bitcoin is now used for almost anything. Recently a sexual consent app called LegalFling was developed using blockchain technology.As per the report published by Netscribes Inc., the blockchain technology market share will reach USD 13.98 billion by 2022, with an annual growth rate of 42.8 percent. The recent increase in the adoption of blockchain-based technologies in the various field are the main factors that drive the market.
Blockchain can be defined as

“AN OPEN, DISTRIBUTED LEDGER THAT CAN RECORD TRANSACTIONS BETWEEN TWO PARTIES EFFICIENTLY AND IN A VERIFIABLE AND PERMANENT WAY. THE LEDGER CAN BE PROGRAMMED TO TRIGGER TRANSACTIONS AUTOMATICALLY WHEN CERTAIN CONDITIONS ARE MET.”

Read more... @https://anonywise.me/blockchain-backbone-bitcoin-cryptocurrency/

#steemit #technology #bitcoin
7 years ago in #blockchain by
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