WHAT IS BLOCKCHAIN DIFFERENT FROM OTHER SYSTEMS?

WHAT IS BLOCKCHAIN DIFFERENT FROM OTHER SYSTEMS?

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Banks and accounting systems use accounting books to monitor and track transactions. The difference between blockchain and this system is that it does not have a headquarters like a bank and is completely open source. This is an indication that people do not need central banks to monitor their transactions safely. 

Peer-to-peer Blockchain technology can keep a record of all transactions without fear of being deleted or lost. What's more, Blockchain is more useful and programmable than banks ' accounting books because it is open source. If programmers need a new function on the Blockchain, they can make changes to the existing software by consensus. It is very difficult for banks to make such arrangements because they are connected to a center and their infrastructure is completely closed.


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