How The Blockchain Technology Will Survive The Bitcoin Crash?
The price of Bitcoin in the recent drop has created horrifying noise and everywhere particularly in cryptocurrency circles there is utter confusion. This chaotic scenario has ensured the widest public that Bitcoin is expiring. As a matter of fact, the demand for the Bitcoin is highly volatile, that is making the most capitalized virtual currency even the most unreliable preserve of value.
But, what about Blockchain?
A good news is there. The technology behind Bitcoin, which is Blockchain is booming and is having an every opportunity for becoming a game changer for a wide range of Fintech companies, that are not at all limited by cryptocurrency transactions. So, now the time is ripe for knowing what Bitcoin crash brings and what is blockchain technology.
Now this is the right time for extricating the terms Bitcoin and blockchain once for all. To be exact, a blockchain is an apportioned public database of entire transactions, that are made by means of a network’s participants. The noteworthy point of this technology is that each transaction in the distributed ledger has to be confirmed by consensus. To say in another manner, most of the database’s participants are required for verifying transactions before it is completed.
The strangers are allowed by the blockchain for exchanging the value in a transparent and trusted method, without involving third parties like banks. Now, one can able to guess about it. The blockchain is not only confined to money. Primarily the blockchain is about decentralized records of events, which are distributed by entire parties who are involved in the chain. The blockchain in accordance with the interest of the latest leaders who include Google and Facebook proves that it would be a top global technology of the coming decades.