Hello, my name is Sendependa Verkisto. I'm the editor of the BitOnFeed blog. It is a real and useful tool to help aspiring crypto-entrepreneurs succeed.

 What is blockchain? Don't be overwhelmed by the technical terms that people use to explain "blockchain." Blockchain is a type of database. It is also very simple to set up - you could do it with an Excel spreadsheet.

 These are databases that are unique. They are first, only intended for addition. It is possible to add information to blockchains.

 The second reason is that every record in the database (called «block "block") is cryptographically linked to the preceding record. Simply put, each new record must contain an electronic fingerprint (hash) of the preceding one.

 Each fingerprint links towards the previous fingerprint and you'll get a chain. Or, as the cool guys call it, a blockchain.

 Blockchain is immutable: if you modify a block, it changes the fingerprint. Because that fingerprint is within the next block, it alters the block. It's the effect of a domino effect in which any modification becomes apparent. It's impossible to change information without someone noticing.

 Although most believe that blockchain is secure, there are drawbacks to the technology.

 Scalability is the first issue. Scalability is the main issue. It means that transactions are more difficult to process when participants increase. This issue was experienced by ether, the 2nd-highest capitalized cryptocurrency. It took the company a few years to solve this problem.

 Another threat is the "51 percent attack. It means that a handful of users on the network, that have plenty of computing power, have consented to change the records of a certain block. The cryptocurrency Bitcoin SV recently encountered this. Hackers were able to gain control over the Bitcoin SV network and compromise over 570,000 transactions.

 Another issue for blockchains that are not used for cryptocurrencies is the insufficient testing. The majority of cryptocurrencies have test networks that permit developers to detect vulnerability in networks. The majority of businesses do not test their blockchains this way, so they are more vulnerable to hacker attacks.

 To help you as a newbie crypto-entrepreneur succeed in the cryptocurrency industry, read our blog https://bitonfeed.com/, we do everything in easy-to-understand language.