CRYPTO RICH: A Beginners Guide to Cryptocurrency Investing by Jason Dukes

Blockchain technology

In order to trade cryptocurrency we must first know what we are investing
in. The technology behind cryptocurrency is called blockchain. Blockchain
is an innovative technology that allows people all around the world to
conduct transactions in a lightning fast, safe, and trustless way. The
transactions are trustless because they don’t require trust in any custodians,
middlemen, or even the person on the other end of the transaction.
Blockchain is quickly changing the way our global economy operates.

In it’s most simplified form, a blockchain is just a place to store data.
New data is constantly being added and stored together until it forms a
block. The newly formed blocks are then attached to the blockchain forming
a sequence of digital blocks that can never be changed or altered. The whole
blockchain is secured using cryptography.
Cryptography takes the information and scrambles it making the
information extremely difficult to interpret. This prevents those who
shouldn’t have access to the information from reading it. Governments
around the world, militaries, and banks all use cryptography to protect and
keep information encrypted and secure. Each block contains a cryptographic
piece of the previous block, a time stamp, and transaction data such as
purchase amount and parties involved, making it resistant to modification.

CRYPTO RICH: A Beginners Guide to Cryptocurrency Investing by Jason Dukes