To talk about blockchain technology, it is necessary to mention that it is one of the two fundamental pillars (the other is monetary theory) to understand the operation of the cryptocurrency market.

Blockchain, is the name of a global data set that contains the records of transactions worldwide, this is achieved thanks to a decentralized and shared database.

The denomination of block chains is due to the fact that the information is distributed in small blocks to simplify the search and then these are combined to join in a long chain, always leaving a record of the basic data of each operation carried out as if it were a giant ledger book.

The information stored in these chains is strictly confidential, thus protecting the identity of the user and at the same time guaranteeing the veracity of the information, all thanks to a writing technique called cryptography.

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The use of this technology is what contributes the name given to virtual currencies; that is, cryptocurrencies.

Everything that has to do with the implementation of a virtual currency is undoubtedly a revolution; Hence, there is a natural resistance to drastic changes imposed intently by the very demands of the market, in addition to the current speed that is being imposed on all areas of the modern world marked by globalization and constant innovation.

One of the notable advantages provided by this modern method is that it facilitates the possession and storage of this new monetary sign by practically eliminating intermediaries, also giving a realistic sense of ownership to the user.

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Blockchain technology was originally an accounting method for the virtual currency Bitcoin, without endorsement by any bank or central authority and which guarantees the security of transactions.

Each transaction is replicated in all nodes that make up the network, creating a public and auditable record.

If you are interested in the subject, do not miss this simple video about Blockchain ...