Blockchain Technology facts
I just found this interesting facts about Blockchain that I will love to share with all of us here.
But first of all, I will love to do some Introductions, in case you haven’t heard about the word Blockchain before.
In simple terms ‘Blockchain is a distributed, decentralized, public ledger’.
But to further explain;
A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree).
By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
This is according to Wikipedia
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, the tech community has now found other potential uses for the technology.
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” – Don & Alex Tapscott, authors Blockchain Revolution (2016)
So, as I’ve mentioned up there, I found some interesting facts about this Blockchain thing to share with you, Sure! I mean you!
Here we are!
- In April 2019, Cryptocurrency exchange Coinbase announced that it is spreading crypto-to-crypto conversions and trading services to 11 more countries. The San Francisco-based firm announced that customers in several countries in South-America and Asia can now access crypto-to-crypto exchanging services.
- The bitcoin market capitalization saw a huge spike from nearly 1.48 billion U.S. dollars in Q3 of 2013 to approximately 144.96 billion U.S. dollars in the Q3 of 2019. (Q3 means 3rd quarter)
- There were 17.97 million bitcoins in the world, at the end of third quarter of 2019.
- At the end of September 2019, the bitcoin index value amounted to 8.085.71 U.S. dollars.
- There were 3,571 bitcoin ATMs in the United States, as of September 2019.
- At the end of June 2019, numbers for Blockchain wallet users, crossed the mark of 40 million.
- Size of the Bitcoin Blockchain has seen a drastic growth from Q3 of 2013, when it was 1 gigabyte in size to the end of Q3 of 2019, when it stood at 242.386 gigabytes in size.
Still got time? lets take a look at more interesting facts about Blockchain in the video below;
I will love to hear what you think.
Have a nice day.