Blockchain protocols are critical for the functioning of all cryptocurrencies. But what are they, and how do they work?
Cryptocurrency runs on the blockchain, and blockchain technology comprises many computational rules or procedures—some of which you may have heard of as buzzwords in the media.
Collectively, these rules are referred to as protocols. However, they are more than commands on a computer. So, here’s what a blockchain protocol really is.
What Is a Blockchain Protocol?