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Is blockchain the future? can blockchain be hacked?

Is blockchain the future?

I want to talk about is the future of blockchain where do we see blockchain actually going in five and ten or in 20 years.

But first, what do you mean by blockchain?

I will explain it to you-

Let’s take a look First, let's find out why it’s called 'Blockchain' 

Blockchain collects transaction records between individuals over a period of time which are grouped together into a single unit, called a block 

As long as transactions are made blocks will be created continuously and chained to each other in the order in which they are made

it many used to transfer cryptocurrency which also mean future money or digital money 

you can see about cryptocurrency more here-Is cryptocurrency the future?should you invest in crypto in 2020

How does Blockchain create trust without an intermediary?

The existing system is designed to keep information hidden by the intermediary but the blockchain system is designed to share the flow of transaction information among the participating members 

so that they don't fall for false information That’s how we can ensure trustworthy transactions without the need for trusted third parties in the blockchain network

How do blockchain transactions work? 

is blockchain the future? can blockchain be hacked?

When the blocks containing information about transactions are newly made these blocks need verification to make sure the transactions are true 

Only verified transaction which has been accepted as true by the entire network can be entered into a new block thus making the transaction information immutable and trustworthy

 And the new block is labeled with a cryptic name tag which requires supercomputer-like performance

Can blockchain be hacked?

In order to successfully hack the transaction history all participants' blocks must be altered and in the meantime a blockchain keeps growing so hacking is only possible when a number of blocks that are chained are simultaneously altered 

is blockchain the future? can blockchain be hacked?

This is why it is practically impossible to hack blockchain

 the blockchain itself always make sure that transactions go to where they're meant to go and do what you need to get done again, of course, there are scams out there with people trying to manipulate your money and ask for certain coins when they don't need to so, of course, there are many many things you need to be aware

I mean the reality of it is is wherever there's money to be made there's gonna be people that have malicious intents and no amount of technology is ever going to stop that 

but what you can understand is that the blockchain itself is very secure your money can be exceptionally safe

there is not a technical vulnerability with various cryptos and various blockchains its more the human side of things which is where these misconceptions arise

So lets back to the topic 

Is blockchain the future?

It’s like a big google doc file. You can view it and add to it, but you can't change the information that’s already there. 

unlike credit cards or PayPal payments, there are no middlemen such as banks and financial institutions asking for your personal information and home address.

the future of blockchain is incredibly bright

is blockchain the future? can blockchain be hacked?

 Blockchain could be the biggest gamechanger for the poorest in society. 

The technology is open to people living in low-income countries or fragile states at risk of economic collapse.

 the possibilities for blockchain technology seem endless


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