William Toth: Demystifying Blockchain Technology

William Toth explains that blockchain technology is a decentralized database that stores a registry of assets and transactions across a peer-to-peer network. Simply put, blockchain is basically a public registry of who owns what, as well as who transacts what. The transactions are secured through cryptography, and over time, that transaction history gets locked in blocks of data that are then cryptographically linked together and secured. By doing so, this creates an immutable, unforgeable record of all of the transactions across any given network. Further securing these digital transactions, William Toth added, this record is then replicated on every computer that uses the network.

Institutions are a tool to lower uncertainty so that we can connect and exchange all kinds of value in society. Further, William Toth believes that we are now entering a better and more radical evolution of how we interact and trade, because for the first time, we can lower uncertainty not just with political and economic institutions, like our banks, our corporations, our governments, but we can do it with technology alone.

William Toth: Record of Success

William Toth is a successful entrepreneur whose positive track record dates back decades. He’s passionate about professional pursuits, and he’s helped numerous businesses grow, turnaround and sell throughout his career. Today, he’s focused on his endeavors as a Bartercard USA and bucqi USA franchisee, and he’s quickly expanding both businesses.

Before William Toth hit his teens, he found his lifelong love for entrepreneurship as a student of personal development. His first endeavor launched at age twelve, and he was receiving awards for professional success by age seventeen. In 1992, he also became the first member of his family to graduate from college.

To learn more about where William Toth’s thriving career as a check out his LinkedIn profile at www.linkedin.com/in/billtoth3.

William Toth: What is Blockchain Technology?

William Toth has been a successful entrepreneur for more than twenty years and is a big fan of utilizing technology to help his clients build their wealth. Revolutionary and ingenious, block chain technology is the brainchild behind the person (or persons) who created Bitcoin.

Briefly, blockchain technology has created a new type of internet by allowing digital information to be distributed without being copied. Originally designed for Bitcoin, many individuals within the technology sector recognize the potential for its use in creating other kinds of digital value.

Information held on a blockchain exists as a shared and continually reconciled database. This way of using the internet has obvious benefits because the blockchain database is not stored in any single location (so the records it keeps are completely public and easily verifiable). Further, because there is no centralized location or version of this information that exists, it is impossible for it to be corrupted via hacking. The information is all hosted by millions of computers simultaneously so the data is accessible to anyone on the internet, and at any time, writes William Toth.

Since its invention a decade ago, the Bitcoin block-chain has not been impacted by any significant disruption. (To be clear, reported hacking and mismanagement of funds were problems that were created by individuals with bad intentions or due to human error.) Likewise, the internet has an almost thirty-year record of accomplishment to prove its durability and viability. As block chain, technology continues to be developed, expect to see it used in other new and exciting ways, says Mr. Toth.

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