Bitcoin is built on a distributed digital record called a blockchain. As the name implies, blockchain is a linked body of data, made up of units called blocks that contain information about each and every transaction, including date and time, total value, buyer and seller, and a unique identifying code for each exchange. Entries are strung together in chronological order, creating a digital chain of blocks. βOnce a block is added to the blockchain, it becomes accessible to anyone who wishes to view it, acting as a public ledger of cryptocurrency transactions,β says Stacey Harris, consultant for Pelicoin, a network of cryptocurrency ATMs. Blockchain is decentralized, which means itβs not controlled by any one organization. βItβs like a Google Doc that anyone can work on,β says Buchi Okoro, CEO and co-founder of African cryptocurrency exchange Quidax. βNobody owns it, but anyone who has a link can contribute to it. And as different people update it, your copy also gets updated.β
What is Telegram?
Telegram is a cloud-based instant messaging service that has been making rounds as a popular option for those who wish to keep their messages secure. Telegram boasts a collection of different features, but itβs best known for its ability to secure messages and media by encrypting them during transit; this prevents third-parties from snooping on messages easily. Letβs take a look at what Telegram can do and why you might want to use it.
