The blockchain backer is a digital asset that provides a certain level of security for a blockchain-based project. The backer can be an individual, an organization, or even a government. The backer provides the funds necessary to launch the project and to keep it running. In return, the backer receives a percentage of the project’s tokens.
Other related questions:
Q: Who is the blockchain backer?
A: There is no one “backing” the blockchain technology. The blockchain is a decentralized, distributed database that is maintained by a network of computers around the world.
Q: What does a block in blockchain look like?
A: A block in a blockchain typically contains three pieces of data:
1. The data being stored in the block (e.g. a transaction)
2. A cryptographic hash of the previous block in the chain
3. A timestamp
Q: What is the backing for cryptocurrency?
A: Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services.
Q: Can I see a blockchain?
A: Yes, you can view a blockchain by downloading and installing a blockchain explorer.