The Role of Blockchain Technology in the Cryptocurrency Space.
Blockchain technology, which was invented in 2008 by Satoshi Nakamoto, has played a critical role in the development and functioning of cryptocurrencies like Bitcoin, Ethereum, Litecoin and others, according to a report by Analytics Insight.
Blockchain technology is a distributed ledger system where all transactions are recorded in real-time across a network of computers in a transparent and immutable manner.
Each transaction is secured by advanced cryptographic algorithms and verified by the network of nodes, ensuring complete transparency and security.
Blockchain technology facilitates the decentralisation of the cryptocurrency system and enables users to trace cryptocurrency transactions back to their origin.
