What is Blockchain?

What is Blockchain?

Blockchain, as the name suggests, is a distributed database that provides encrypted transaction tracking in a chain structure consisting of blocks. This technology has many different features that make peer-to-peer data sharing possible in an open, transparent and secure way, without being tied to any central authority.

What Are the Most Important Features of Blockhain?

In this article of our blog, we will touch on the 6 most important features of Blockchain technology.
Decentralized, distributed structure

The fact that the blockchain is decentralized and distributed means that this technology is not under the control of any central authority. So Blockchain technology cannot be controlled by governments, institutions or individuals. In the blockchain, instead of these authorities, transactions are recorded on distributed nodes.
Immutable

Once the data is verified, it is added to the blockchain network and stored in a distributed manner. Thanks to the distributed storage, records are kept in many places, so that even if a single network is damaged or cyber-attacked, data cannot be changed or lost.
Be Safe

In blockchain technology, every person who can access the network through the internet acts as a hub. Therefore, for a cyber attack to be successful, at least 51% of the network must be compromised. Considering that the data is also stored in a distributed way in different places, it is almost impossible for this attack to occur. In this case, it shows that Blockchain technology is quite secure.
Being Open and Transparent

Information in Blockchain technology can be accessed by any user who wants it. The fact that users take part in various activities such as being able to audit data and develop various applications within the system shows that the technology is open and transparent. In addition, your personal data is protected by cryptographic passwords and your personal privacy is ensured.

You may be interested: The Power of Money in a Digitalizing World 
Transaction Fees

Since Blockchain technology is inherently distributed and open to everyone, it can perform peer-to-peer transfers without the need for an authority or an intermediary. Therefore, it completely eliminates commission expenses and allows you to carry out your transactions without transaction fees or with a very small fee.
Be Fast

Transactions can be completed very quickly in Blockchain technology with features such as being able to perform peer-to-peer transfers without an authority and being distributed. In this way, it can perform daily transactions such as money transfers in minutes or even seconds, regardless of location and time.

What is MELANIA Coin and Why Did It Become Popular?
Although new stars are born in the crypto world every day, only a few of them manage to attract attention as quickly as MELANIA coin. MELANIA coin, which emerged right after TRUMP coin took the crypto scene by storm, has become one of the most talked about crypto assets. So, what is MELANIA Coin and why has it become so popular? In this project, which follows in the footsteps of TRUMP coin, we will...
What is TRUMP Coin and Why Has It Become So Popular?
New projects emerge every day in the crypto world, some of which manage to attract more attention than others. Recently, a new crypto asset project called TRUMP coin has been making a name for itself and attracting the attention of investors. So, what is TRUMP Coin and what are the reasons behind its popularity? In this article, we will explore what TRUMP Coin is, why it has attracted so much attention,...
What is DXX Token? A Tokenized Version of the US Dollar Index (DXY)
The cryptocurrency world continues to grow with new and innovative projects every day. Have you ever thought that financial indices could be represented in this digital universe? DXX Token is bringing this idea to life! DXX Token, a tokenized version of the US Dollar Index (DXY), offers investors a digital investment tool by presenting the US dollar index in cryptocurrency form. So, what is DXX Token,...
What is Sonic (S)? Transformation from Fantom to Sonic
While developments in the digital world continue at full speed, a project that pushes the boundaries of innovation emerges: Sonic (S). Formerly known as Fantom (FTM), this platform takes the dynamism of technology to the next level by becoming the symbol of speed and efficiency. So, what makes Sonic so special? How does this project, which attracts the attention of both users and developers, shed light...
Get to know USTECHX : How to Invest in it?
Is it possible to reach the growth potential of US tech giants with smaller investments? TECHX opens a new window in the investment world as a crypto asset indexed to the shares of the strongest technology companies in the US traded on the Nasdaq, an American stock exchange. This innovative crypto asset reduces the capital requirement and makes it easier for investors to enter the technology sector....


Create an account

Now create an account where you can use your knowledge.