{"id":7885,"date":"2021-12-05T08:14:32","date_gmt":"2021-12-05T08:14:32","guid":{"rendered":"https:\/\/www.softwaretools.tech\/?p=7885"},"modified":"2021-12-05T08:14:35","modified_gmt":"2021-12-05T08:14:35","slug":"what-is-blockchain-and-how-does-it-work","status":"publish","type":"post","link":"https:\/\/www.softwaretools.tech\/what-is-blockchain-and-how-does-it-work\/","title":{"rendered":"What is Blockchain and How Does it Work?"},"content":{"rendered":"\n
If you have heard about bitcoins, you might have heard the term \u201cblockchain\u201d connected with them. If you are interested in investing in cryptocurrencies, you probably might know that these currencies run on a technology named \u201cblockchain\u201d.<\/p>\n\n\n\n
But, if you have never heard of the term \u201ccryptocurrency\u201d, then a brief idea about it is that it’s a type of digital or virtual asset that can be used to purchase goods or services online.<\/p>\n\n\n\n
Cryptocurrency, also known as virtual currency, functions on a network that is distributed over a wide range of computers. The network is decentralized so that it enables the currencies to be used for transactions without the involvement of banks or governments.<\/p>\n\n\n\n
Cryptocurrency has its name derived from cryptography and uses encryption techniques that are used to secure the network. <\/p>\n\n\n\n