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The opportunities to take advantage of blockchain technology are nearly endless.
The opportunities to take advantage of blockchain technology are nearly endless.

Image: pixabay

If you’ve taken note of any trends in finance, technology, and investing over the past ten years, you’ve probably noticed the rise of cryptocurrency and blockchain technologies. You may have even heard through the grapevine that blockchain is what powers cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more — but what is blockchain actually, and how is it used? 

You can learn all this and more with the Blockchain Certification Bundle, a set of online courses that are bundled together for just $29).

What is Blockchain?

Blockchain is, at the most basic level, digital information (the “blocks”) stored in a public database (the “chain”). The blocks store three key pieces of information: 

  • Specifics about the transaction taking place — like the date, time, and amount

  • Details about who is participating — for example, a name

  • Unique data that distinguishes the block from other blocks, also known as a “hash”

How these blockchains function together is also what makes cryptocurrency appealing — because in order for a block to be added to the chain, four things need to happen:

  • The transaction needs to happen

  • It needs to be verified

  • The transaction is stored in a block

  • The transaction is given its own, unique “hash”

Once that block is added to the chain, it’s publicly available to view — making blockchain technology and cryptocurrency an open, decentralized database of many, many transactions. This public register of data sounds complicated, but performs a simple function: It allows people to send money to one another, without the use of a bank, credit card company, or other fintech company like PayPal. 

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Blockchain technology data is shared and operates like a constantly updated, live registry of who owns what — as opposed to a company, private interest group, or even government entity that’s controlled by a single person. That makes blockchain the ultimate democratic currency of sorts, consisting of a series of trusted transactions between two or more parties, verified by collaboration, and powered by the collective’s best interests (a currency for the people, by the people). So unlike banks, corporations, or government entities, which can all have high barriers to entry, anyone can get into the cryptocurrency investment game. 

Plus, unlike traditional currencies and forms of exchange, it’s terribly difficult to dupe cryptocurrency or commit fraud with it. New blocks in the chain are always stored chronologically and linearly, and once the block is added, you can’t go back and alter the block — if you do so, you alter the “hash.” So in the case, a hacker would want to go and change a single block, they’d also have to alter every single block that came before it on the chain — which would take a massive and improbable amount of computing power. 

What is Blockchain used for?

While blockchain is certainly used for currency, it’s also used for many other things

  • Lending financial avenues to the world’s most impoverished people

  • Creating an unhackable electronic vote-counting system

  • Accelerating governmental capabilities and efficiency

Blockchain provides a strong, secure system of management, with a stored, clear-cut record, and multiple “witnesses”/users that can verify facts. The opportunities to take advantage of this technology are nearly endless: you can use it to exchange money faster than ever, lower the barrier to financial wealth for all, develop secure databases through advanced cryptography, create reliable automated communication, and so much more. 

In short, blockchain technology is the future — and we’re only beginning to harness its potential. This Blockchain Master Class Certification Bundle is the perfect way to get started learning more about how blockchain is used, and how you can start to innovate with it. You’ll gain a detailed understanding of blockchain basics — including the origins, objectives, and challenges — plus learn to decipher trends behind blockchain, Bitcoin, and cryptocurrencies. The bundle also takes you through a deep dive into Bitcoins, Hyperledger, Ethereum, and multiple blockchain platforms.

Usually, the Blockchain Master Class Certification Bundle is $899, but you can get it on sale for $29.

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