The new world is coming and it will be so much better with blockchain technology. So have you done your due diligence?
Here are a few important questions you need to know the answers to in preparation of the new world.
What is Blockchain Technology?
Simply put, blockchain can be viewed as a spreadsheet or ledger that’s digitally reproduced across multiple networks, these networks continually update the ledgers (ledger by ledger forming blocks) with no centralized system managing the records.
What are Tokens?
Tokens are a representation of a particular asset or utility, much like shares in a company. Tokens can represent any assets that are fungible and tradeable, from commodities to loyalty points to other types of cryptocurrencies.
What are Smart Contracts?
A smart contract (crypto contract) is a digital program that directly controls the transfer of digital assets and currencies between parties. This type of contract defines the rules and regulations much like a traditional contract, with the bonus that it automatically enforces those obligations. These contracts are stored on the ledgers forming a blockchain.
Check here to read more:
https://hackernoon.com/creating-a-better-world-with-blockchain-62ee39889dda
