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Welcome to Blockchain 101

Before you can understand crypttocurrencies, you need to first understand what makes them work, and why this technology gives them potential for such incredible value.

The blockchain is simply put a distributed database, with each node carrying a full copy of every single transaction that has ever happened on that network.

So what does this mean for you?

It means that any application running on the blockchain is essentially unhackable due to the fact that thee are so many copies of the blockchain itself, and each transaction is protected by means of advanced cryptography.

It also means that every transaction that takes place is 100% traceable and open for scrutiny (note this is different to knowing who is behind the transaction).

This means that we now have a means to automatically build trust into the transactions we undertake online.