Understanding How Blockchain Changes Digital Records and Money Transfers
Think of blockchain as a giant digital notebook that keeps track of transactions and records. Just like a ledger in a bank, it helps verify and record important data. This technology is now very important for many things, like digital money called cryptocurrencies and smart contracts, which are like computer agreements that automatically work when conditions are met.
The Shift from Old to New Ways of Securing Blockchain
One of the biggest changes in blockchain security is the move from an old method called Proof of Work (PoW) to a newer one called Proof of Stake (PoS). Imagine PoW like a huge puzzle that people (miners) race to solve, which takes a lot of energy, like running a big, noisy factory. PoS, on the other hand, is more like choosing a leader in a game based on how many tokens (coins) they have and are willing to
