• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
blockchain technology, bitcoin technology, blockchain application
Sensei Inu Logo

The Future for Blockchain Technology

newsbtc by newsbtc
8 years ago
in Cryptocurrency Market News
Reading Time: 2 mins read

Bitcoin, the cryptocurrency associated with the use of blockchain technology, has struggled to shake of the negative reputation and skepticism for years. However, blockchain itself still holds the tremendous potential to transform, not just the financial industry, but other sectors as well.

Blockchain refers to the public ledger of transactions, which are updated upon verification and operate under an additional layer of security. High-powered computers are programmed to solve algorithms to verify each transaction and in doing so, these cannot be amended or deleted.

Blockchain Technology Potential

A few companies and governments have already made progress in using blockchain technology for practical applications, such as the creation of a secure database of land titles in Honduras. “With Blockchain technology, you could create a truly tamper-proof record system. Those land title records can go into the Blockchain in a way that I know if anybody tries to change it,” explained Peter Kirby of Texas-based Factom, the company working with Honduras’ government to build their land title registry.

Other countries such as Isle of Man are also working on government initiatives to store information and make contracts using blockchain applications. After all, the underlying technology makes use of complex and immutable cryptology that cannot be hacked.

Interestingly enough, this ledger is accessible by practically anyone and is not controlled by a single monetary authority or regulator. For some, this could pose a significant security risk, as bitcoin exchanges have undergone hacking attacks and have been vulnerable threat in the past. However, increased focus on developing blockchain technology further could address this particular issue.

As it is, the current size of a blockchain is close to 36B and this information is stored by thousands of computers all over the world. This means that it would take a considerable amount of effort to hack into a bunch of computers in order to alter the information.

Tags: bitcoin technologyBlockchain applicationblockchain technologyOpinion
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Bitcoin crypto Fed treasury yields

Bitcoin And Crypto Face Turbulence As 10-Year US Treasury Yield Hits 15-Year High

1 min ago
The Future Landscape of ASIC Miners

The Future Landscape of ASIC Miners

46 mins ago
XRP

XRP Hurdle In The Run-Up To ‘Proper Party’ – Will Altcoin Price Slip?

1 hour ago
MakerDAO

MakerDAO (MKR) Recent Rally Signals Potential For New Highs – $1,700 On The Horizon?

5 hours ago
Ethereum ETH Whale

Ethereum Whale Unfazed By Prices, Pulls $8.1 Million Of ETH From Binance And Buys NFTs

11 hours ago
Cardano ADA

Is Cardano (ADA) The Worst Investment Of 2023? Here’s What The Data Says

13 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Uwerx’s Recovery Blueprint Ignites Momentum With The...

    2 hours ago
  • Pocket Option Trading Company Is Second In TU’s Best...

    18 hours ago
  • Bitcoin Spark Drives Home Solana Killer Narrative Raising...

    21 hours ago
  • Shiba Inu, Bone ShibaSwap or Kangamoon: Which Meme Coin Can...

    22 hours ago
  • Top Three Must-Have Tokens for Investors In 2023 –...

    22 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.