WHAT IS A BLOCKCHAIN AND AFRIQ ARBITRAGE SYSTEM?
Here I want to break what is Blockchain technology and the relationship between Afriq Arbitrage System platform.
WHAT IS A BLOCKCHAIN?
A Blockchain is a distributed database or ledger that is shared among the nodes of computer network. As a database, a Blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a Blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
WHAT IS A SMART CONTRACT?
Smart Contracts are simply programs stored on a Blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss. They can also automate a workflow, triggering the next action when conditions are met.
SECURITY:
Blockchain transaction records are encrypted, which makes them very hard to hack. Moreover, because each record is connected to the previous and subsequent records on a distributed ledger, hackers would have to alter the entire chain to change a single record.
WHAT IS LIQUIDITY POOLS?
The term refers to a collection of tokens or digital assets locked in a Smart Contract that provides essential liquidity to decentralized exchanges. Liquidity Pools okay a large part in creating a liquid decentralized finance (DeFi) system. A decentralized exchange (DEX) without liquidity is equivalent to a plant without water. It won’t survive. The Liquidity Pools provides a lifeline to DEXs.
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