What is blockchain?

What is blockchain?

Blockchain is a digital ledger. It is like a secure notebook that records every transaction. This ledger isn't kept by just one person. Instead, it's distributed across many computers around the world called "nodes". These computers or nodes work together to verify and record each transaction, ensuring everything is transparent and tamper-proof.

Why using blockchain?

Here's why blockchain is so great. No single person or organization controls the whole system. It's a team effort. Once something is recorded on the blockchain it can't be changed. This keeps the data safe and trustworthy. Everyone can see the transactions making the system open and honest.

Why choosing Algorand?

Algorand is a special kind of blockchain created by MIT professor and award-winning cryptographer Silvio Micali. Here's what makes Algorand stand out:

- Transactions are processed in just a few seconds: imagine sending money and having it arrive almost instantly.

- Unlike Bitcoin or Ethereum, transaction fees are small so you won't break the bank moving your assets around.

- Once a transaction is complete, no one can reverse it.

- Algorand uses very little energy, making it a green choice in the blockchain world.

- Since its launch, Algorand has never gone down, meaning it is reliable.

Overall, Algorand is fast, secure, and eco-friendly, making it perfect for a wide range of applications such as EXA Market.