Why do we need Blockchain?

News ID: ۷۸۷۶۹۷

30 January 2022

The financial systems have always monitored our money flow, and unfortunately, we have had no choice but to allow them to do so. Let’s think about it for a brief moment. We go to the banks and with satisfaction, give them our money to control it. Whenever we need our money, we need the bank to let us withdraw our own money! This issue might look pretty simple, but it was the first sparkle for creating a network in which nobody - even the central banks - can’t control our money. This revolutionary technology is called Blockchain. It’s a decentralized, permissionless, and distributed network that allows all people to participate in the process of controlling the network. Isn’t it fascinating? Let’s move forward and learn more about this exceptional technology.

Why is blockchain technology necessary for us?

To answer this question, we need to get familiar with this technology. In very simple words, you can consider the blockchain as a notebook. This notebook is for having a record of your family financial flows. All family members have access to this notebook, all of them should confirm the family financial needs, and without all members’ confirmation, no financial decisions can’t be made.

You can consider the blockchain technology working this way, but with some complicated cryptography and other technologies involved of course. Blockchain technology lets people all around the world - regardless of their nationality - send and receive money to anyone they want, without the need of any central banks or any other middlemen.

In order to use this technology, you need to study it and improve your knowledge. Since it’s a pretty new technology, using it might be a bit difficult for people who are not familiar with technologies like IT. In order to start your study, you need to use up-to-date and trustworthy resources. You need to get familiar with the basic concepts like how blockchain works, what characteristics does a blockchain have, how do we get to an agreement in blockchain (it’s called a consensus algorithm and it has different types), what are the pros and cons of the blockchain technology, etc.

After learning this stuff, you might get interested in the cryptocurrency market and decide to enter this market. It’s interesting to know that cryptocurrencies use blockchain technology and its wonderful capabilities. In fact, most cryptocurrencies are built on a blockchain. If you decided to enter the cryptocurrency market, again you need to study the concepts of this market. According to mihanblockchain.com cryptocurrency website and cryptocurrency prices, Blockchain and cryptocurrencies are among the fastest-growing technologies and you need to stay up-to-date in order to optimize your activity in this field.

It’s interesting to know that these days, people all around the world, are using blockchain technology and cryptocurrencies to facilitate their financial transactions. These technologies are actually more effective for undeveloped countries like El Salvador. According to credible blockchain news in Iran, El Salvador has recently accepted Bitcoin as a legal tender. It’s very fascinating news since it shows how blockchain and cryptocurrencies are being accepted in different countries all around the world.

Where can you learn about blockchain and cryptocurrencies?

If you’d asked this question five years ago, the answer would have been very limited and people might have charged you with massive amounts of money for teaching you this technology. But nowadays, there are countless free and trusted resources you can use to learn everything about blockchain technology and the cryptocurrency market. The very good news is, regardless of what language you speak, you can find trustworthy resources and dive into these fascinating technologies. If you speak English, your way is easy and straight; Since the English resources are much more than other languages. But if you speak other languages, don’t worry at all! For example, if you speak Persian, there are some professional and completely up-to-date resources publishing news and articles for improving the knowledge of people who speak Persian. There is a Persian website - and I can say it’s the most professional in this field - that not only publishes fresh and credible news and articles but also offers a variety of other services. For example, they have an incredible feature that compares exchanges prices and by this service, users can choose the most reasonable and credible local crypto exchange for buying and selling cryptocurrencies.

Conclusion

Some people compare blockchain technology to the invention of the internet. Both of these technologies were revolutionary and brought some impressive changes into our lives. Keep in mind that blockchain technology has made these positive effects in its very early days; so who knows what else it can do for us to make our life easier? Don’t forget to share your opinion about blockchain technology with us.