Blockchain is the technology behind the ever-growing Bitcoin currencies, which have revolutionised how modern business is done.
It was originally used for Bitcoin technology, and is extremely important as it protects and ensures the accuracy of any records kept online.
Bitcoin is the primary use for blockchain, but it has also started being used for other things such as in the media.
What is Open Source for Blockchain?
Open source blockchain is a method of keeping records in a very transparent and public way.
It achieves this by replicating information thousands of times across a network of different computers, constantly updating the information.
This means there is no central location for all the information, which means hackers aren’t able to access or corrupt any data, and that all records are public.
Records are therefore extremely secure as different blocks of identical information are stored across a huge network and not controlled by one computer or entity.
The enormous amount of computing power which would be necessary to override the blockchain network makes it almost impossible to corrupt information.
Information kept in this way can’t be tampered with or revised and is accessible to anyone on the internet.