Blockchains are linked blocks of data and each new block contains new information which is added, shared and stored by many computers on a network. For example if you buy bitcoin, the record of your ownership is stored in a new block of data on the bitcoin blockchain and all computers that are part of that bitcoin network, share and add that new block to the existing chain of blocks. Different cryptocurrencies mostly run on their respective blockchains. Ether runs on Ethereum and so on.
In order to hold a cryptocurrency on a blockchain, crypto investors need a digital wallet which is a secure and unique address on the blockchain.
The benefits of blockchains apply to many industries including Financial Services where, for example, blockchain technology has created the ability to instantly send and receive (instant settlement) cryptocurrencies across international boundaries. The traditional banking models typically take 1-2 days for settlement.
Cryptocurrency transactions can be monitored on a blockchain explorer for real time or historical confirmation of completion, status or delays.
Examples, diagrams, and charts are for illustrative and educational purposes. INX relies on information from various sources believed to be reliable, including from customers and third parties, but cannot guarantee its accuracy or completeness. INX is not engaged in the business of the offer, sale or trading of securities, is not registered with the U.S. Securities and Exchange Commission, and does not provide legal, tax, or investment advice. Cryptocurrency and other digital asset holdings are speculative in nature and involve substantial risk, including the risk of complete loss. Learn more about these risks here.
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