Blockchain technology was an unheard term prior to advent of internet technology. This term was not available in the technology dictionary even after the advent of internet. The term” blockchain” was coined after the advent of bitcoin, the first cryptocurrency that didn’t require a banking system for transaction, but a special electronic ledger, called blockchain in technology term. This way of transaction is exclusively and popularly used in crypto-transaction that were rare when bitcoin was launched way back in 2009.
role in crypto-transaction
more crypto coins, called altcoin, were launched after bitcoin that gave a push
to the use of crypto coin in many areas where transaction was a vital
component. Initially, cryptocurrency was in use only in transactions of money
laundering and underworld, but the scenario has changed, although most
crypto-transactions are still used with an aim to conceal the identity of a
sender or receiver. A vital role is obviously played by the blockchain that
doesn’t leaks the transaction by maintaining transaction records within blocks
of a chain.
of blockchain came from anonymity feature
Blockchain technology worked efficiently for anonymous transaction because transaction could only be accessed by only those who are involved in the transaction, making it safe and unidentified by a third person. That’s why, this technology got success when introduced for eSports betting. The technology is used only on special blockchain-powered platforms like https://start.fbx.network/. More such platforms have come for the benefits of online gamers.
Is blockchain platform safe for betting?
The technology of blockchain transaction is progressing and making its entry into many other fields, besides eSports. These platforms are preferred by many gamers because they trust on these platforms for safety, privacy and anonymity. Blockchain transactions for eSport betting on platforms like https://start.fbx.network/ are considered risk-free by gamers, although much is yet to be known about drawbacks of using these platforms. Time will reveal the truth when defects in the blockchain-powered platforms will come to light.