Blockchain’s Power

Blockchain is rapidly growing and innovating. It increases in scope not only by the year, but also by the month. Its technology, mostly known for being nigh impenetrable has been proven to be true. Although many rumors have said that there are blockchain hackers, nobody has really made it yet. People who are feeble would probably believe this hack rumor. But if you truly understand blockchain, you would not easily believe. This is not to say that blockchain is unhackable. Yes, blockchain is hackable, but for you to do that, you have to hack all of the blocks in that specific blockchain in all of the computers of the users of that blockchain throughout the world simultaneously. But before you hack all of those encryptions, you might already be detected by the time you hack your second or third block.

Hashes are found in blockchain and these hashes create the connecting chain by containing the hashes of previous blocks. The first block is called the genesis block, since it has no previous block. This kind of system makes the chain secure and nigh impenetrable. Don Tapscott described blockchain in his speech in TED as “infinitely more secure than the computer systems that we have today.” This is why blockchain is being used in many applications such as cryptocurrency transactions, government and health services, shopping and even online casino gaming! It’s hard to believe but it’s true. One example is Sic Bo tuning into a blockchain game called Cryptodice. See for yourself: https://luckydapps.com/

If you would like to know more about blockchain and its power, we encourage you to watch Don Tapscott’s TED talk here: