Cryptocurrency & Blockchain

Technology is currently challenging the process at which money is created and distributed. Imagine banking without borders, without geographic boundaries, and without operating hours, without government or central control and interference from others telling you what is best for your money. Imagine money working like money and without the hassle we know today.

Cryptocurrency is the product of centralized dominated markets (i.e., banks, federal reserve) and the revolution of the technological age. It is a digital currency, tracked and verified by a decentralized system using cryptography.

Blockchain is the underlying technology that lays the infrastructure for cryptocurrency to operate. Simply put, the blockchain is a digital ledger, or database, that is openly distributed to exist across many computers. These many copies of blockchain are in constant communication with one another, updating and correcting each other for error or fraud. Blockchain copies can exist anywhere a computer application can be stored and can cross geographic boundaries, time zones, and are available 24 hours a day 7 days a week. Multiple copies can exist at the same time thus ensuring that if one goes offline another takes it's place.

This is the very heart of decentralized technology.

A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.