General questions about blockchain technology

What is Blockchain?

Blockchain is a technology, often referred to as Distributed Ledger Technology (DLT). Blockchain technology opens up new opportunities in social, political and economic areas. With blockchain, transactions can be faster, sometimes cheaper and safer. Simplified speaking, blockchain enables safe and secure communication and data storage in a distributed register. It is a technology that is based on mathematical and game theory concepts. The best known type of blockchain up to date is the Bitcoin, a cryptocurrency and a result of the whitepaper by Satoshi Nakamoto published in 2008.

In particular, cryptocurrencies which are based on blockchain technology enable the transfer of digital assets of any kind. Digital currencies allow billions of users to take part in the financial ecosystem. As such, cryptocurrencies based on blockchain networks embrace the idea of decentralization, borderless trade and free flow of digital assets.

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