Originally built as a way to secure cryptocurrency transactions, blockchain is a digital platform that verifies and records exchanges. Blockchains are global networks that can have millions of users, each adding information/data which is secured through cryptography. This creates an indisputable history of these transactions that cannot be modified by a single user, eliminating opportunities for fraud, and it is this feature that has some heralding blockchain as as a way of increasing cybersecurity.
University of Waterloo researchers are looking to understand the full potential of this emerging technology and determine if blockchain can live up to the hype and reduce its intrinsic connection to cryptocurrencies like Bitcoin. Is it a safe bet for data transfer applications in government, business, health and finance?
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