Introduction to Blockchain Technology (Part 2 of Intro to Crypto Series)

A blockchain is an integrated collection of databases that are physically spread across different locations. It’s also a public ledger that stores information digitally and is maintained by a network of computers or nodes. Most cryptocurrencies rely heavily on blockchain technology for two core purposes:

1. Helping secure the networks and transaction records
2. Maintaining decentralization, which allows money to be transferred without an intermediary

Although blockchain is heavily associated with cryptocurrency, this technology was developed years before bitcoin, the first cryptocurrency. Blockchain also has uses outside of crypto, mostly in traditional finance and logistics.

In this video, we provide a beginner's explanation of blockchain, detailing the important points so you can better understand what it is, how it works, and why it plays a major role in the crypto space.

If you prefer reading, you can check out our Phemex Academy article on this same subject: https://phemex.com/academy/what-is-blockchain-technology

Trade Crypto on Phemex → https://bit.ly/PhemexOfficial ← Register now for a 7-day free Premium Membership Trial and other trading bonuses.

Follow us on:
Twitter http://bit.ly/phemex_twitter
Facebook: http://bit.ly/phemex_facebook
Instagram: http://bit.ly/phemex_ig
Join the Telegram community: http://bit.ly/phemex_tg

00:00:00 What is Blockchain?
00:02:06 How many blockchains are there?
00:02:56 The invention of blockchain
00:04:20 What blockchain is used for
00:05:22 How does blockchain remain secure?
00:08:36 But is it really secure?
00:10:54 How to invest in blockchain

#Phemex #Crypto #Bitcoin #blockchain #learncrypto #cryptobasics