3 REASONS WHY BLOCKCHAIN SECURITY MATTERS TO ENTERPRISES.
Blockchain is an emerging technology that entrepreneurs and business owners should know to help their businesses grow. Cryptocurrencies have been given blockchain technology recognition and place and bring it into the mainstream. Blockchain was invented in 2018. And this technology is growing and will grow further.
The global blockchain market size is expected to grow USD 39.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 67.3% during the forecast period. Why this growth? Certain factors like simplifying the business process, speeding up businesses, transparency, reduced cost, etc. This article will help to know what blockchain is and the reasons why blockchain security matters to enterprises.
What Is Blockchain?
Blockchain is a decentralized database of transactions in which the data is stored in blocks and linked so that information becomes immutable and makes it impossible to change or hack the system in which Blockchain is used, which ensures the integrity of the system.
Blockchain is a digital ledger, each time a user or an individual makes a transaction, it is recorded in the ledger of that user or an individual. The blockchain is a Distributed Ledger Technology (DLT) in which every transaction is stored in the ledger with an unchangeable cryptographic signature.