How is blockchain more efficient?

And it consolidates processes of legacy systems , making them much more energy efficient. By storing information on a blockchain, it becomes immutable and viable, which ensures that parties are held accountable for their green pledges. Private blockchains are the most energy efficient choice that you can make today.

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Is blockchain still relevant 2020?

Blockchain in 2020 Gartner agrees by naming “Practical Blockchain” one of the most important technology trends of 2020. One thing that did not change over time is the relevance of global cryptocurrency trade. Trading remains the most important and valuable application of blockchain technology .

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Why is blockchain trustworthy?

The chaining of the blocks ensures that the content of the block remains trustworthy at all times . For example, if a change is entered in a block, such as a payment statement, then all the computers in the entire network check the blockchain to see if the transaction was valid.

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Does anyone actually use blockchain?

Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain —besides currency speculation and illegal transactions.

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