Ever got confused if Blockchain is the name of just another cryptocurrency or what this fancy tech term is all about? Blockchain is often misinterpreted by people for various reasons. People do not seem to know all about it. But worry not, in this blog we will try to stay away from the generic cryptocurrency trading and focus on the blockchain more.

Here are three important things about Blockchain that you must know about:

It is an encryption

Blockchain is an end to end encryption method that enables the transfer of funds and cryptocurrency. Blockchain is also an encrypted system that lets one mine cryptocurrency. Cryptocurrency is a digital asset and cannot be mined physically or anywhere else other than internet therefore, blockchain enables people sitting on computers eager for cryptocurrency trading to mine cryptos. Blockchain is the method with which one can safely sleep at night knowing their cryptos are safe. It is an encryption which generates unique codes for every single transaction ever made. You will find blockchain encryption to be 100% safe. It is impossible for a hacker to get through that system with any kind of fraud or whatsoever.

More than a coding channel

Over the past couple of years crypto to crypto exchange has been the new talk of town in the world of cryptocurrency. Do you know why that is becoming more popular every day? It is because blockchain is on the verge of becoming something more than just a mere coding channel which mines cryptocurrency. Cryptocurrency trading and crypto to crypto exchange has been escalating as the most prominent practices. Blockchain is on the roof of developing itself as the exchange and payment gateway. It wants to enter the mainstream market as a payment gateway which facilitates services not just with cryptocurrency but all kinds of currencies that there are provided they will be digital.

Not Bitcoin’s legacy

It is true that the invention of blockchain is associated with the invention of Bitcoin. Bitcoin was the first ever cryptocurrency and along with it came the system of Blockchain. But back then the services and functions of Blockchain were very limited. When new cryptocurrencies started developing that is when people started to develop blockchain too. What blockchain is today is completely an upside down version of what it was a decade back. Therefore, though bitcoin might have been the initiator of Blockchain but it sure as hell didn’t pursue the legacy of it for sure.