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Is the blockchain good for security?

Discussion in 'CSO' started by RSS, Apr 1, 2016.

  1. RSS

    RSS New Member Member

    Overstock was one of the first online retailers to adopt Bitcoin in a big way. Now it's become the first major company to issue stock on a trading platform powered by the blockchain.

    The blockchain is a distributed file system where participants keep copies of the file and agree on changes by consensus. The file is composed of blocks, where each block includes a cryptographic signature of the previous block, creating an immutable record.

    "Blockchain trading is much more secure than the current system," said Judd Bagley, director of communications at Salt Lake City-based Overstock.com. "The distributed nature of the network that verifies the integrity of the transactions and associated account balances makes a successful attack mathematically impossible."

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