While most of us are concious of the fact that stock market can be quite ephemeral, there's never an assurance even if you are associated with the “safe” blue-chip stocks and thus, you could end up loosing it all in just a blink of an eye.

What about blockchain? What do you think it means? Actually, Blockchain is referred to the technology which is used to create Bitcoin and other cryptocurrencies, and with the rise in popularity in Cryptocurrencies, most especially in Bitcoin over the past few years, it’s starting to gain the attention of so many people.

And now, the question is – is blockchain any less volatile to dabble in? What about its lasting ability? Will this be this future or is it looking just like a fad? Perhaps, as you can expect, the answer isn’t actually too clear, instead, there are some considerable factors.

Understanding The Difference Between Blockchain And Cryptocurrencies:

First and foremost, if it happens that you are just starting to take a peek at the blockchain technology, it’s important to understand that blockchain is different from cryptocurrencies.

Of course, they are connected but in fact, they are two different things. As mentioned earlier, blockchain refers to the actual technology used to make the cryptocurrencies, or the digital money. However, always have in mind that cryptocurrency isn’t the only thing that blockchain technology is used for.

Meanwhile, the name Blockchain is originated from the technology comprising of a number of different blocks. Each of these blocks however, consist of data and a record of transaction, but there are no boundaries on what this data can be.

Blockchain isn’t owned by a private company, its development can be done by private or public entities. Again, there are no boundaries. Cryptocurrencies tends to be one of the most popular uses for the technology (i.e if not the most already). Meanwhile, we have provided you a link to check out the latest crypto prices, at least to get the knowledge of how fluid these currencies are.

How Does This Technology Transform Into Real-Life Uses?

For those who don’t regard themselves a techie, it’s easy to read the explanation and then ask “so what?” Why exactly would someone want to use blockchain to create cryptocurrency? What are the real-world uses? Well here’s the surprising thing, there are a number of applications for blockchain. And hence, this simply means that blockchain is far from a “fad” technology.

Payments are easily the most common way that blockchain is being used. Online money transfers can happen quickly and are way cheaper since you aren’t using a bank that will subject you to fees. Think of how much this can save a business over time, especially one that depends on online payment transfers.

While it is confirmed to be a payment means, it is also safe, secure and no private ID's are disclosed and thus, can be used in any transactions. However, worry not much because it’s always traceable, which helps to dispel any worry people may have.

On the other hand is Speed, Speed should also be mentioned, as transfers conducted through blockchain are much more faster than going through the bank. It’s all about providing efficiency and transparency for people, and businesses in particular, which can literally change the landscape.

Then there is the fact that you are able to make use of your “wallet” straight through your mobile device, even though this can be a bit slower. Watch out for this particular area to get a lot of attention in the near future so that the access can be rapidly speed up.

Blockchain Cannot Be Classified As A “Fad”

The deeper you into what blockchain offers and its real-world applications, it becomes clear that while this may have appears like a fad when it was first developed. And now, it is far from a fad. As a matter of fact, this technology has only just started to realize its true potential.


The Rise Of Future Technology!
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