Myth 1: Blockchain and Bitcoin are the same.
Reality: Bitcoin is a cryptocurrency that operates on blockchain technology. Blockchain is the underlying technology with applications beyond cryptocurrencies.
Myth 2: Blockchain is completely secure.
Reality: While blockchain offers enhanced security features, vulnerabilities can still exist, especially at the application level.
Myth 3: Data on blockchain is entirely anonymous.
Reality: Transactions are pseudonymous; identities can be traced through associated addresses and activities.
π Data and Statistics
Global Blockchain Market Size: Expected to reach $23.3 billion by 2023.
Blockchain Adoption: Over 40% of companies across various sectors are integrating blockchain solutions.
Transaction Speed: Blockchain can reduce transaction times from days to minutes.
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π Workbook Activities
Define Blockchain: In your own words, write a concise definition of blockchain.
Identify Components: List and describe the core components of blockchain technology.
Real-World Application: Choose an industry and explain how blockchain can be applied to improve processes.
Myth Busting: Select a common myth about blockchain and provide a factual explanation to debunk it.
Infographic Analysis: Review the provided infographics and summarize the key takeaways.