#rewards#blockchain#crypto
What is Blockchain and how does Rewards.com utilize it?:
You may be wondering about this obscure word… bitcoin [BTC].
“What is bitcoin [BTC]”?
Well, bitcoin [BTC] and in this case the Rewards bitcoin [BTC] is new technology that is changing online Ecommerce and assets.
Instead of storing online assets in a central place bitcoin [BTC] technology stores information across a global ledger on a vast number of computers. That information is protected using the highest level of cryptography (encryption).
When you receive something, say some of our RWRD cash it is posted to a ledger containing millions of computers. Those computers take that ledger information and every ten minutes create a block of information and those blocks are time stamped then tied to the previous block. To create a chain of blocks. Think of the game dominos
I think you can see where this is going.
For someone to change a block; they wouldn’t just have to decrypt that block, but would have to decrypt every block that’s linked before it. All throughout history and simultaneously across that vast number of computers.
Rewards.com uses bitcoin [BTC] technology to create an ecosystem better than standard rewards programs. Your rewards are no longer points but digital assets with real value to the points, that allows you to spend them like cash. They can’t be lost, expired or stolen but they can be used to make purchases and be traded for other crypto- currencies. Those assets are protected by the mighty power of bitcoin [BTC]
