What is blockchain?
Transparent. Immutable. Distributed Ledger. Cryptographic. Hash. Nodes. Decentralized.
“These words and many more have been used to describe blockchain,” says John Paganini, CEO and Innovation Catalyst for IoT Directions in Cleveland. “Typically, electronic transactions are entered into a central ledger or database. This has inherent problems; including a lack of efficiency, being prone to errors and is not very secure. For example, the system administrator or anyone authorized can access the database and change a record.
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Story excerpt provided by The News-Herald.
Written by Donna L. Robinson.
Originally published February 26, 2019.