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What is the role of blockchain in the Handshake cryptocurrency?

avatarPrince VermaMar 27, 2022 · 3 years ago3 answers

Can you explain the significance of blockchain technology in relation to the Handshake cryptocurrency? How does the blockchain contribute to the functionality and security of Handshake?

What is the role of blockchain in the Handshake cryptocurrency?

3 answers

  • avatarMar 27, 2022 · 3 years ago
    Blockchain plays a crucial role in the Handshake cryptocurrency by providing a decentralized and secure platform for transactions. It acts as a public ledger that records all the transactions and ensures their immutability. This transparency and security make Handshake a reliable and trustworthy cryptocurrency.
  • avatarMar 27, 2022 · 3 years ago
    The blockchain in Handshake cryptocurrency enables peer-to-peer transactions without the need for intermediaries. It eliminates the need for traditional financial institutions and allows users to directly transfer value. This decentralized nature of blockchain technology ensures that transactions are fast, efficient, and cost-effective.
  • avatarMar 27, 2022 · 3 years ago
    In the case of Handshake cryptocurrency, the blockchain serves as the foundation for the entire ecosystem. It enables the registration and transfer of domain names, ensuring that ownership is securely recorded and verified. The blockchain also facilitates the decentralized resolution of disputes, making the Handshake network self-governing and resistant to censorship.