When people talk about cryptocurrency, Bitcoin (BTC) is the first thing most people come up in mind. Cryptocurrencies market carries numerous altcoins, such as Ethereum (ETH) and Ripple (XRP). Blockchain might be less known, but it is the foundation technology that created all cryptocurrencies.
What is blockchain?
The video should help understanding the basics of blockchain. (I am lazy to write all of them.)
Characteristics of blockchain?
- Distributed possible
- Encryption possible
- Tamper-proof
Use of blockchain?
- Cryptocurrenies
- Databases
- Financial accounting
Future of blockchain?
There is no doubt that blockchain technology will be the next revolution of technological advances from the Internet.
Side note
My favorite cryptocurrency so far is Monero (XMR) because there is no one but the wallet owner has the key to read his / her transaction history and balance.