This means that it is more protected through blockchain transactions than online credit card transactions. 2. Peer-to-peer purchase using cryptocurrency Cryptocurrencies and blockchain technology eliminate intermediaries in every way . For example, consider marketing Google Display. The main reason website owners sign up to display Google Ads on their site is that it's not very convenient to deal directly with advertisers. It's difficult for site owners to screen advertisers (to see who is "legal" and who isn't), and to ensure that advertisers and site owners track clicks (advertisers pay fair rates). (To make sure you pay) is not that easy.
But with blockchain, the whatsapp database situation is a little different. Clicks and users are automatically validated, allowing website owners and advertisers to trade directly with each other. Think of banking transactions in the same way. If a bank's online database is hacked, it will rely entirely on backups and other technologies to recover the information. Consumers have to wait for the backup to be restored and deal with the consequences in the event of a problem. With blockchain, the data is not stored on a central server, so even if a hacker compromises a part of the system, the banking platform will continue to run smoothly.
Cryptocurrencies and blockchain technology enable peer-to-peer transactions over decentralized systems, preventing hacking and other cybersecurity issues. 3. "Smart" contract with blockchain technology Another advantage of blockchain technology is "smart" contracts, transactions that allow you to exchange stocks, assets, money, etc. in a way that does not involve an intermediary. An easy way to think of a smart contract is to compare it to a vending machine. Generally, when you get a document, or any kind of "contract" (driver's license, leasing contract, etc.), you need to go through the process of signing a contract with the person involved in the transaction.