You should always be responsible with your transactions using any cryptocurrencies. This does for you to keep track of your cash, especially that virtual money could be gone without your consent. One of the best way to monitor your cryptocurrency like Clear Coin is by using blockchain throughout your transactions.
How Can Blockchain Help in Keeping Your Transaction Records of Clear Coin?
It could be difficult to monitor the flow of your virtual cash on traditional means. This also applies on using ClearCoin for various transactions, especially on the unique reversibility feature of this cryptocurrency. This makes it important for you to consider using the blockchain technology in keeping your ClearCoin transaction records.
For starters, blockchain is an online database that consist of blocks, and linked together through cryptographic chains. Blocks contains various data like transaction details, which is almost impossible to edit without consent. Moreover, if you will edit one block, you have to edit the subsequent blocks in a chain too.
This makes the blockchain suitable for Clear Coin transaction, specifically in monitoring the flow of the deal. For instance, if you are a buyer of a house property and you have placed an amount of ClearCoin in escrow, you can indicate in the block that you have done your payment. However, the seller cannot receive it yet since it is still in escrow. If you are satisfied with the house you have bought, you can then release the cash for the seller to receive. Everything will be recorded in the blockchain, thus the seller cannot easily edit the data without your permission. This could help you avoid cloudy transactions, and help in increasing its reliability and convenience.
Use blockchain for monitoring your Clear Coin transactions now! This can let you have a more secure, convenient and reliable transactions using your virtual cash.