- What is Blockchain ?
Blockchain is a decentralized ledger for accounting the transactions. It is the permanent and tamper-proof record of the transactions that have occurred in a network.
Blockchain is a distributed ledger that records transactions across a peer-to-peer network. Each computer in the network stores its own copy of the blockchain which gets updated by each new transaction, creating a chain of records (hence the name).
Blockchain technology is the backbone of cryptocurrencies and can be used for so many more applications than merely storing transactions. Here is a list of some uses for the technology: storing medical data, voting and elections, protecting copyrights and intellectual property, tracking supply chains and verifying supply chain information, smart contracts etc.
- Benefits of Blockchain
Blockchain is a distributed ledger technology that allows you to make and record transactions without having to go through a centralized authority. It’s essentially a transparent and verifiable digital asset ledger that records transactions safely, permanently and very efficiently. The data held in a blockchain cannot be altered or tampered with, making it tamper-proof, decentralized, secure and more transparent.
Blockchain is facilitates and records transactions across many computers. It’s purpose is to store information in an efficient and secure manner, in which it cannot be tampered with or changed. This technology is especially useful for the financial industry, as more and more companies are adopting various forms of blockchain technology to improve their business processes.
Blockchain allows users to exchange digital assets and make safe and secure transactions. It’s like having a notary public for each transaction, except that everyone in the network has access to it, rather than just the person you are transacting with. The list of transactions is publicly available, so no one can make illegitimate transactions without being detected.
MegaMoon operates on the Polygon blockchain, which is a layer2 of the Ethereum network (decentralized system). Therefore, MegaMoon lottery users and MegaMoon dealers can rest assured that MegaMoon system is transparent, because you can verify transactions via Polygonscan.
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