Powered by the Blockchain Technology, the block chain software is a very powerful program that promises a greater number of services and facilities to the users. The software has some unique features that make it highly advantageous for all the users. Actually, this is a program that works as a ledger that contains a large number of transactions that the users of the platform who share the software from different geo-locations.
A blockchain is an online ledger that keeps and preserves the bitcoin transactions that take place using this online value transfer platform. Though it has some similarity to the ledgers that the bank officials use to show, edit, maintain, and delete a transaction till the accounts for the day are sealed, it also has some differences too. The block chain program or software seals the transactions only after 10 minutes of getting final approval from the users. After that the transactions are sealed, and no one can manipulate them ever after that. This is one thing that makes the platform more reliable in every manner.
Unlike the bank ledgers, these online ledgers are not restricted to the people who share or contribute to the serves. These users are interconnected with their own devices, and that is why all the users get notifications of the transactions. The transactions do not include banks in any manner. The value is transferred directly to the receiver. It is 100% authentic and reliable.
The users of the transactions are termed as miners, and anyone can become a miner in just a few seconds. They just need to download and install the Block Chain Software, and start participating in the transactions. Most importantly, the value transfer is made in terms of bitcoin, a virtual currency also known as cryptocurrency.