What is a Blockchain?

What is a Blockchain?

Blockchain is the technology behind cryptocurrencies. The blockchain technology makes it possible to send or receive any amount of cryptocurrencies without the need for a third party, like a bank or credit card company.

All transactions on the blockchain are verified and more secure than a transaction on a credit card. They are anonymous and most of the time, untraceable. When you make a payment using Bitcoin, for instance, you don’t need to provide your personal information, like your name, phone number and home address.

There are many different types of blockchains. Those that power Bitcoin, Litecoin and Bitcoin Cash are known as public blockchains.

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