#bitcoin #ETH #Blockchain #sanor016CommUNITY #Sanore016 Why? Blockchain To Existence Came Blockchain was created to solve several challenges and limitations associated with traditional financial and data systems. The main reasons for creating blockchain are:
Elimination of intermediaries: To reduce transaction costs and time by eliminating the need for central institutions such as banks.
Increased transparency and trust: By creating a public ledger where everyone can view transactions, trust between parties increases.
Security: By using cryptography and consensus mechanisms, it becomes very difficult to change data after it is recorded in the blockchain.
Distributed and Decentralized: To create a system that is managed by a network of users rather than controlled by a central entity.
Global access: so that people without access to traditional banking services can participate in the global economy.
Smart contracts: The development of blockchains such as Ethereum led to the creation of automatically executed contracts, which increased the efficiency and trust of contracts.
Blockchain was created with the aim of creating a safe, transparent, efficient financial and data system without the need to trust intermediaries. This technology was recognized as the first practical application of blockchain with the introduction of Bitcoin in 2009, but since then its applications have expanded significantly