Blockchain technology is not only useful for creating digital currencies like bitcoins and developing new financial technologies.
Blockchain can be used for a variety of applications such as documents, digital assets, physical assets, voter ownership, and source tracking.
Do you love blockchain technology?
Maybe you love also the blockchain technology with some reasons. Now, I want to share to all of you the reason why I love blockchain technology.
Here are 5 Reasons :
BLOCKCHAIN PREVENTS DOUBLE SPENDING
Banks now spend tons of money every year to pay people for verification. Illegal transactions are executed in all public palms and are completed when the transaction is completed, so now the blockchain can end it.
No matter what happens in any transaction, there is no exception. All transactions are fully verified on a computer blockchain and everything is done mathematically. Therefore, there is no fraudulent transaction or double cost.
FEES
Blockchain removes fees or almost any fees. Now banks cost you money and tons and tons to spend money and collect fees or it is an overdraft fee to send money to your loved one.
The blockchain removes this because they check transactions on the blockchain no one has to pay any fees or one has to pay.
Only those fees that have been paid or are miners that do specialized core mining, such as bitcoin, they pay you for coin mining in fees.
UPGRADED SECURITY
Blockchain technology provides the best security as it has never been hacked in 7 years. Now you have a private key that people can use to keep their fines for something private.
When your money is in your wallet, no one can access it. Online, the only person who can access it is a person who has a private key. This makes him a hacker when it comes to cryptocurrency and stores your money on the blockchain.
This is very easy because when you have your money on a blockchain you do not have to worry about the other person controlling your money or dealing with a third party. Verification of your money order processing.
BLOCKCHAIN IS ON A PUBLIC LEGDER
So no data is ever doubled or forgotten. Now that this blockchain has been created in 2009 and Satoshi Nakamoto has published the White Paper Blockchain, everything is there.
Any data that has not been removed or can be removed from the blockchain, every transaction is done on this blockchain and is verified on the blockchain.
This makes it easier and faster for people to secure and maintain data.
EVERYTHING ON THE BLOCKCHAIN IS PRECISE
The fact that everything on the blockchain is accurate allows many to send the exact amount. The value they want to send to a particular person at any time.
To be precise, $ 1 wouldn't be $ 0.99, as if the exact amount was accurate, it wouldn't be a dime above $ 1. Also, the exact amount will always be that amount. You send your money to the blockchain, and it does everything for you.
As soon as the blockchain validates the transaction. There is no "if" or "but" as to whether this is a more or less accurate claim, this is a continuing amount. Therefore, blockchain is much faster and easier to use than traditional payment systems.
Do you think investing your money in blockchain is even more rewarding?
I think blockchain is one of the best things that has happened. Let me know your thoughts, leave a comment below. Thank you for reading!
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i also love blockchain