What is a blockchain?

In this way, a blockchain is the foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed. This is why blockchains are also known as a distributed ledger technology (DLT).

Which cryptocurrencies have their own blockchain?

Any platform that has its own blockchain has seen immense growth in the world of cryptocurrencies. If you look at the top 20 ranked cryptocurrencies in the world, almost every coin has its own blockchain, including ETH, LUNA, AVAX, SOL, and many others.

Can blockchain save you money on transaction fees?

Although blockchain can save users money on transaction fees, the technology is far from free. The “proof of work” system that bitcoin uses to validate transactions, for example, consumes vast amounts of computational power.

Is blockchain working 24 hours a day?

If you attempt to deposit a check on Friday evening, for example, you may not actually see funds in your account until Monday morning. Whereas financial institutions operate during business hours, five days a week, blockchain is working 24 hours a day, seven days a week, and 365 days a year.