Blockchain is known as a shared and immutable ledger whose purpose is to facilitate the process of recording transactions as well as tracking assets on a network. An asset can be something tangible (house, car, money, property) or intangible (patents, intellectual property, copyrights, trademarks). Any item of value can be tracked and also traded on a blockchain network, reducing risk and cost for individuals. All companies depend on information and the more accurate and faster they are to receive it, the better for organizations. In this sense, blockchain is considered ideal for the delivery of this information, as it offers it immediately, shared and transparently, being stored in an immutable ledger, which can be accessed by authorized persons.
The main elements of a blockchain are: distributed ledger technology, immutable ledgers and smart contracts. Distributed ledger technology is what allows all network participants to have access to the ledger and also to its immutable record of transactions. This shared ledger allows transactions to be recorded once, which eliminates duplicate activity. Immutable records understand that no participant can change or even corrupt a transaction after it is recorded in the ledger. When a transaction record has an error, a new transaction must be added so that it can be rolled back, in which case both transactions are visible.
About smart contracts, they were created to speed up transactions, they are a set of rules stored on the blockchain and executed automatically. Allky has an exclusive platform blockchain, immutably and transparently recording any and all actions on it, from trades and bets to deposits and withdrawals, integrating into this ledger all cryptoassets listed on the platform and bringing greater security to the project.
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