The blockchain is not an unknown monster anymore — the technology is considered to be one of the most epic and groundbreaking inventions of this century. As more people get acquainted with the technology, more questions about appear about the mass adoption of blockchain in real life. ChangeNOW, a leading non-custodial cryptocurrency exchange service, would like to shed more light on the blockchain being a part of our everyday lives. Now, let’s talk more about the future.
What is blockchain?
The blockchain is a technology comprising a chain of blocks, each of them is a carrier of data. All the information that is stored on the ledger is secured with the use of special cryptography. Pointers (variables) and Lists (the sequence of blocks) are the two most important structures in the blockchain.
The most attractive features of the blockchain technology for a wider audience are decentralisation (also known as having no ruling third-party) and the inability to change the information once it is placed on the ledger.
The list of blockchain applications
Blockchain can be applied in various ways all across our daily lives. Starting with the government — the voting system and the important data storage can be optimised with the blockchain use. Now the governments are already starting to apply the technology — you can already check more on the functions of the Estonian government.
The gaming industry, healthcare facilities, even libraries, banks and insurance companies are working on the blockchain. The future is surely here — you can read more about the cases of the blockchain adoption in the main article on ChangeNOW’s blog.