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HOW BLOCKCHAINS MAKE TRANSACTIONS CHEAPER

What in the world is a Blockchain? In the world of Crypto, the Blockchain is an ever-growing list of records that acts like a public ledger for a cryptocurrency’s transactions.




TRUSTLESS AND FULLY DECENTRALIZED


Blockchains use cryptography, or coding, to ensure the information they contain remains secure. This makes them difficult to alter - and everyone involved can see what’s going on.


ACCOUNTABILITY MEANS LESS EXPENSIVE TRANSACTIONS


Because Blockchain ledgers are public and encrypted, there is no need to fear someone granting themselves a million bitcoins out of the blue. Control is decentralized, so no one person is in charge. Every single transaction builds upon the other, which means accounting takes care of itself. There’s no need for a money-counter when the system does it by itself.

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