May 4, 2020 | technology | No Comments
One of the many goals when crypto currency (CC) was first invented was to establish a secure digital system of transaction. The technology used was Blockchain, and still is. Blockchain systems were designed to be impervious to problems often found with online financial systems using older technology – – problems such as account hacking, counterfeit payment authentications, and web site phishing scams.
Blockchain itself runs on peer-to-peer global record-keeping networks (distributed ledgers) that are secure, cheap, and reliable. Transaction records all around the world are stored on blockchain networks, and because these records are spread out over the whole community of users, the data is inherently resistant to modification. No single piece of data can be altered without the alteration of all other blocks in the network, which would require the collusion of the majority of the entire network – – millions of watchdogs. BUT – what if a website … Read More