What is a Real Blockchain Project (What is Blockchain)?

In traditional investments, we usually refer to blockchain as a “real” technology. But what are the characteristics of a “real blockchain project” for investors without actual use cases, and how can their shortcomings be identified?

This article will explain what a real blockchain project is from three main perspectives:

1. Whether a real blockchain project is trustworthy;

1) Why believe that the code of a project is open source.

2) Lack of trust between “real miners”, bitcoin developers, and users. This means that they cannot transact with resources provided by others. If their nodes are poorly run and become compromised, they cannot guarantee the safety of their data. Therefore, even in the presence of network problems or compromises, they can still protect their funds from loss by using third-party software to maintain these systems.

3) Is a real blockchain project really valuable? Not all digital currencies need to possess this attribute in order to be considered real financial assets or capable of providing real financial products and services – such as security tokens. Because of this, they can operate as a new global market. However, currently, there is not yet a product that can prove itself to serve customers and achieve sustainability.

4) Four reasons why most ICOs are fraudulent – everything should know if something is safe or reliable. Despite some companies claiming to comply with certain regulations, they have failed to implement effective measures to prevent hacking attacks, including many exchanges such as Coinbase, trying to prevent fraud in the cryptocurrency industry. However, these claims seem to lack sufficient support.

5) 1inch is an ERC20 token issued on the Ethereum network, allowing traders and users to send tokens on-chain, making it more liquid and transparent while maintaining the security of off-chain transactions.

6) What needs to be understood about a “real” blockchain project: A “real” blockchain project also needs to consider the following aspects: 1. Decentralization and security (e.g., private keys). 2. Privacy (e.g., access rights to user accounts). 3. Smart contract functionality (e.g., supporting multi-signature).

What is Blockchain?

According to CoinDesk, blockchain is a decentralized, distributed ledger for transactions. It allows transactions to be completed and all information to be recorded without intermediaries, without the need for intermediary institutions to obtain or verify data and input.

Cryptocurrencies such as Bitcoin, Ethereum, and Ripple are commonly used to track asset prices. These digital tokens are created using smart contracts and can be stored on public computers like any other cryptocurrency. Blockchain technology also provides a secure way to make it closer to traditional banking processes. However, there is currently no defined concept proving how blockchain will work. What is blockchain?