What is blockchain technology and why do we use it in our project?
Blockchain technology is one of the foundational components of the GAUGECASH protocol, and we would like you to know more about this tech and what benefits it can offer to the world! This is why today’s post is about blockchain!
The idea at the core of blockchain has been around since 1991, but it was only after 2009 that the technology got proper recognition, when Bitcoin was launched by the mysterious person (or even a group) called Satoshi Nakamoto. The true identity of Satoshi hasn’t been found until this day, but his technological innovation has succeeded in making the world reconsider the way we create and use money.
Blockchain transactions are peer-to-peer, which means that money flows directly from one user to another, without involving authority such as banks, regulators, or governments, etc.
This technology ensures maximum transparency, reliability and security of transactions. Blockchain can increase efficiency and security across a wide range of industries and businesses (financial sector, charity, supply chains, healthcare, etc).
Blockchain allows us to automate the project and make it as transparent as possible for our users, letting modern technology preserve your wealth!
