In order for the blockchain to operate successfully, there has to be rules to validate new information and avoid double spending. Consensus protocols are the processes used to validate / add new data to a blockchain.

A blockchain is composed of data “blocks” linked together by cryptography “chains.” Dive deeper into how blockchain really works in this blog post.

Blockchain at its core is a type of ledger, or database. It is a way to store information. Before we get into the details about the unique characteristics of blockchain, let's first, take a step back and understand the various types of ledgers.

“Bail-ins” are a relatively unknown risk associated with centralized banking that can be mitigated with consumer adoption of cryptocurrencies. Centralized banking is inherently risky for consumers and bail-ins are just the latest addition to its growing portfolio of risk. Cryptocurrencies, such as Bitcoin and Ether, can offer protections agains bail-ins. However, replicating existing banking models by merely switching fiat currency with cryptocurrencies leaves consumers exposed to similar risks.