Blockchain is perhaps one of the most creative inventions of recent times. It was initially designed for Bitcoin to store its transactions, but its potential could be further maximized. It was designed by a group of people who go by the pseudonym Satoshi Nakamoto. Two main features of Blockchains make it even more accessible. The first feature is its Peer to Peer (P2P) capability, which essentially means that it is easily accessible to anyone with an internet connection to view these transactions, which we will discuss later. This brings us to the second feature, which is that it is a decentralized system of record which makes it open to anyone who wants to view it. This therefore makes it transparent and incorruptible. Given these characteristics, much greater potential could be unleashed and integrated into other areas such as transparency in elections or the creation of participatory venture capital funds. This public register, which is the Blockchain, can have various business applications. It is nicknamed the New Web 3.0. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay This introduction leads us to a larger question; what is blockchain technology and how does it work? To get started with this technology, we need to identify it as a network of nodes. This is an end user connected to the network to perform transaction validation and relaying tasks. Each node is an administrator of the Blockchain. We need to move on to the second part of this technology, which is mining. This role is, in the vast majority of cases, linked to cryptocurrencies such as Bitcoin, which allow the end user or node to earn Bitcoins through mining. Cryptocurrency is earned by solving computer puzzles. Blockchain mining involves adding transactions to the existing network or ledger which, since it is open to all users, is distributed among all network participants. This group of transactions is called a block and cannot be corrupted. This process goes through the steps of authentication, a verification that the member initiating the transaction meets all the rules for that nature of transaction, and validation that takes place after authentication. This is when a new block is created to secure this transaction. For all its robust capabilities, it still remains at risk of being hacked at times. This was especially the case when hackers emptied Ethereum wallets, a crypto commodity, by breaking the basic infrastructure of the Internet. This has pushed companies to invest much more in cryptosecurity, which essentially protects transaction data through encryption. Ideally, only network members or participants have access to these transaction records. However, these recordings may fall into unauthorized hands. This is where cryptosecurity comes in where through encryption tools the robustness of these transactions can be improved so that they are not mined further. There are cryptocurrency companies that help you achieve this. These include BitGo, Shift Cryptosecurity, CipherTrace, etc. Crypto investment bank, Galaxy Digital very recently invested $15 million in cryptosecurity with CipherTrace. The objective is to provide an anti-money laundering solution. Although it is still nascent, many companies and individuals adhere to this idea of ​​protecting their digital and industrial assets. Since it is incredibly secure, the.