Gracen technology
first of all we need to have a basic understanding of the mechanism beyond crypto currencies and that
mechanism is called block chain.
Technology and technology blog change is considered to be one of the greatest invention of our digital
age.
Second all into the mention of the Internet which has the potential to revolutionize the way companies
universities and other organizations conduct business in financial transactions.
So what is exactly these block chain block chain is a digital age or the publicly recalls all transaction
in a sequential secure permanent and ever expanding chain of cryptographic ash linked blocks.
Well what the heck was that.
Well let's let's break it down and see what all that means.
So we got a digital Ledger digital Ledger is nothing more than a recorded digit off line.
And then we got to publicly records of all transactions.
So this means that each financial transaction is basically publicly recorded invisible to everyone which
makes the whole process transparent trustworthy and reliable.
And this is a sequential transaction so the transactions are recorded in a chronological order.
They are secure meaning that they're stored securely.
They're permanent.
Once they are recorded they can't be changed.
It's an ever expanding chain.
So because it's forming a connected chain or transactions that continue to grow and expand.
Hey they have a cryptography in it.
This is a highly sophisticated mathematical problem solving method to hide secure and lock information
contained in these.
BLOCK And then these hatchling blocks there's a block of files linked to each other by highly advanced
algorithms.
Ashlynn So why is block chain important block chain is revolutionizing the method of transferring money
using a decentralized peer to peer approach.
Meaning person to person.
No banks no institutions no middleman just two people exchanging wealth.
So instead of having a central bank or an institution acting as a third party to regulate in the register
all transactions blotching uses a global network of powerful computers to safely and securely verify
confirm record and store all those actions directly from person to person.
So it is decentralized digital process of transfer that money makes every financial transaction more
secure and less vulnerable to attack scams in fraud.
So if there are no banks 90 Fusion's no central authority where will the money come from one that's
fine with that.