Blockchain is a technology that is developing rapidly at an incredible speed. When Bitcoin was released, blockchain technology was limited to cryptocurrencies. Today, more and more industries are exploring the benefits that this technology brings. Marketing is one of the industries that has benefited significantly from the blockchain. This technology solves a big problem in the marketing industry. You can also get more information about blockchain strategies from this source: Kiliki Club.
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Blockchain is comparable to a database. A blockchain consists of many blocks that are connected to form a chain. Information is stored in each block. The information stored in these blocks can be shared with the desired users in a peer-to-peer (P2P) network.
Blockchain is protected by cryptographic technology to prevent unauthorized persons from tampering with data. The data stored in blocks follow a set of consensus-based algorithms. This means that once the data is stored by mutual consent, the user is not allowed to edit, delete or add any data to the block.
Whenever a transaction is made, be it a contractual agreement or the exchange of information or money, the transaction is executed as a block. Blocks must be validated by all users on the P2P network and a permanent digital record is created during validation. Once completed, the block is added to the circuit.
The technology behind blockchain has made it fully auditable and transparent. It has no central point of power or point of failure or control. In this way, transactions made using this technology are completely secure and transparent.