BLOCKCHAIN AND CRYPTOCURRENCIES

the future of the economy?

Abstract

Blockchain and the use of cryptocurrency transactions have sparked a lot of interest and debate, with many arguing that they represent the future of the economy. Blockchain is an innovative technology that promises to change the way transactions are made and recorded. It works as a public digital record of cryptocurrency transactions, formed by a chain of blocks, where each block contains a set of transactions. Each block is connected to the previous one through a complex mathematical function, which makes it extremely difficult to change the data in one block without changing all subsequent blocks. This makes the blockchain very secure and reliable, ensuring that transactions are immutable and transparent. Furthermore, because it is decentralized and distributed across a computer network, it does not require intermediaries such as banks or governments to verify transactions. The study, through a literature review, had the general objective of describing the existing concepts and definitions about cryptocurrencies and their security, applying blockchain in this process. Therefore, it was concluded that blockchain and cryptocurrencies have the potential to transform the global economy by offering faster, safer and more efficient transactions. However, it is important to address the challenges and ethical issues associated with these technologies to ensure they are used in a way that is beneficial to those involved.