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On thursday, second largest bitcoin trading platform in china, btcc announced that registration for new accounts for the trading platforms was stopped from that day onwards.
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This relatively not-so-new blockchain technology is gaining major traction in the business world for the myriad possibilities it offers for online security.
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A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
Blockchain is a unique opportunity for financial institutions, changing our lives in profound ways and unleashing a set of new capabilities to transform the way we interact and collaborate in our activities with better security and better authenticity of files, says max di gregorio of pwc middle east.
Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree).