If you are skeptical when it comes to cryptocurrencies and other hype, you should know that you are not the only one that shares the same feelings. However, you are also part of the skepticism with no actual clue, stemming from pure disbelief.
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In other words, people who are skeptical about blockchain should definitely understand the technology and its potential before they start thinking about it again. So, what’s the deal with blockchain and how can it help us? cryptocurrencies
We are listing the best reasons why you should feel excited for blockchain – below.
1. Blockchain prevents payment scams
One of the major advantages of blockchain is the ability to prevent payment scams and therefore protect both buyers and sellers by using the ‘smart contracts’. This procedure would avoid the instances where you purchase items and the seller doesn’t follow through.
2. Cuts out middleman
Since it’s a peer-to-peer system, blockchain operates with direct transaction and cuts out the unnecessary middleman. With this, it is a real game changer out there. cryptocurrencies
3. Settles transactions in minutes
The power of blockchain is at its highest when it comes to transactions. With it, you can send and receive money in a matter of minutes as opposed to waiting days or weeks with traditional banks. cryptocurrencies
4. Increases storage
Blockchain is also found to increase storage on the cloud. Since it is a decentralized infrastructure, it offers maximum privacy and extended encryption so that you can access your data. However, at the same time, you will know that you are the only one accessing it.
5. Rewards its users
The blockchain platform could also be used for reward programs, where brands can use blockchain to give points to each customer and customers can trade points among each other. As such, the blockchain will be able to disrupt many industries from finance to bills, voting, collectibles, patents and copyright.
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So, have you changed your mind regarding blockchain?
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