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How to play Blockchain exchange
The virtual currency market is having complicated developments, many exchanges have sprung up like mushrooms. There are also really reputable exchanges, but there are also exchanges that are spread by investors with fraudulent names. So is the Blockchain exchange really reputable? How to play Blockchain exchange?
1. General knowledge about Blockchain exchange
1.1. When did blockchain appear?
Since the 1990s, with the basic idea of timestamping documents with the aim of making them immutable so that they cannot be changed or tampered with, through the article “How to stack timestamps”. space a digital document by researchers W. Scott Stornetta and Stuart Haber. The downside is that you simply cannot modify the date in any way.
In 1991, Blockchain was described by W. Scott Stornetta and Stuart Haber. The purpose is to timestamp documents so that they become immutable. This means that you cannot modify the date in any way.
However, researchers W. Scott Stornetta and Stuart Haber’s approach to the problem is still not perfect, still needing to rely on the trust and appraisal of a third party.
In 2008, when the world’s financial system collapsed, computer scientists combined with Blockchain technology named Satoshi Nakamoto created an open source protocol called Bitcoin.
1.2. What is Blockchain Exchange used for?
Blockchain exchanges have the function of storing information in interconnected blocks of information. This information is managed by everyone participating in the system without the need for any other 3rd party such as the state or the central bank.
At the same time, the Blockchain exchange allows the transmission of data securely with a complex encryption system, and is expanded over time. The transmission of this information does not need to go through an intermediary to confirm the information anymore. Because in the Blockchain system, there are many nodes that are able to operate independently and verify information without the need for signs to prove trust.
Moreover, this exchange is also responsible for preserving the data, against changes in the system. All transaction information has been entered and the Blockchain will not be changed, you can only add it when there is consensus of the people in that system.
It can be said that the Blockchain Exchange is a system that ensures the maximum safety of data against the risk of being compromised, stolen and destroyed such as personal data: bank accounts. online, payment card…
2. How to play Blockchain exchange
Perhaps the first widely known useful application of blockchain technology is Bitcoin and virtual currencies. Through the blockchain exchange to conduct buying and selling, exchanging virtual money between investors. Thereby helping them increase their earning potential.
But currently Blockchain is revolutionizing most industries in life, including smart contracts, fundraising, market expansion, sharing economy, market prediction, and so on. supply chain audits, intellectual property rights protection, identity management, securities trading, digital identity, healthcare…
To become a wise, independent investor and a currency on the Blockchain exchange, first of all, you need to learn well about the virtual currency market, the exchange that you plan to invest in, don’t listen to the rumors. sweet temptation to fall into debt.
In the above article, we have helped you learn the knowledge around the Blockchain exchange as well as how to play the most intelligent blockchain exchange. Good luck!
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Important note: All content on the website is for informational purposes only and is not investment advice in any way. Your money, the decision is yours.
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