KiXX and all other crypto currencies are based on blockchain technology. Blockchain is a relatively new kind of database, in which all kinds of transactions are stored in blocks. These blocks contain information about the transactions that have taken place. These can be payments with a digital currency or the exchange of important data, such as contracts or property deeds. A blockchain consists of blocks of information that have been digitally ’signed‘ by both parties, without the intervention of a third party, like a bank. It is therefore a decentralised network.
Immutable and transparent chain
The information in a blockchain is stored encrypted by cryptography and spread across a large network of computers. That is why digital currencies using blockchain technology are called crypto currencies. A new block of information contains information about the previous block, which in turn contains information about the previous block. This creates a long, immutable and unbreakable chain of information that is transparent.
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