If DFINITY USA has its way, the Internet Computer protocol will be something that almost everyone will use as part of their daily lives. This protocol seeks to seamlessly integrate itself into the public Bitcoin network, which would make it easier for people to make use of blockchain technology. Let’s take a closer look at blockchain technology and the various ways that it can improve your life.
What Is the Blockchain?
When a transaction involving a cryptocurrency is conducted, the details of that transaction are stored on a digital block. A block can only be viewed by those who have a key to do so. As new transactions occur, they are linked together in chronological order with those that have already occurred.
Blockchain Technology Can Be Used for Many Different Purposes
Although blockchains were originally used to securely keep track of a digital coin after it was mined, sold or traded, it is now used in a variety of industries. In fact, tools provided by DFINITY USA have been used to create new social networks and other online properties. In the coming years, it is expected that the financial, medical and real estate sectors will make use of smart contracts and other tools that make use of blockchain concepts.
DFINITY Wants to Make the Blockchain Available to All
The DFINITY USA mission statement is to make the blockchain available to everyone however they choose to use it. It’s widely believed that the decentralized nature of this technology will eventually make IT departments unnecessary, which can save businesses a significant amount of money. Furthermore, it may help to make employee records and other types of information more secure since it is hard to access without authorization. In the event that someone does get unauthorized access to a block of information, it is impossible to tamper with, which may minimize the potential security risks.