Chapter 4
Looking Under the Hood: Blockchain Technology
IN THIS CHAPTER
Understanding what blockchain technology is
Considering current problems with blockchain technology
Discovering different ways blockchain can be used
Most people have probably heard about Bitcoin more than they have blockchain. Many who have heard of blockchain think it’s just the technology that powers Bitcoin. Although Bitcoin became one of the most famous outcomes of blockchain technology, blockchain is capable of so much more. It’s perhaps one of the most interruptive technologies in decades and may change our lives forever.
Simply put, the relationship between Bitcoin and blockchain is similar to the relationship between email and the Internet. To be able to send and receive emails, you need the Internet. Similarly, to be able to use any crypto, you need blockchain technology. In this chapter, I take a look at how blockchain technology works, why it matters, and how it can impact your life in the future. Having a better understanding of blockchain technology may help reshape your view on the cryptocurrency market. That way, you can make better investment decisions in the industry.
Breaking Down Blockchain ...
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