The potential approval of a Bitcoin exchange-traded fund (ETF) in the United States could have a major impact on the cryptocurrency exchange industry.

According to Bloomberg analyst Eric Balchunas, ETFs could be more cost-effective for consumers than trading Bitcoin directly on exchanges. He points to the example of the Gold ETF, which has a fee of around 0.35% to 0.40%. In contrast, crypto exchanges can charge much higher fees, with some levying transaction fees as high as 1.5%.

Today, we're diving into one of the most fundamental and transformative aspects of cryptocurrencies: Blockchain technology. Grab your cup of joe, and let's decode the mystery together.

The term "blockchain" might sound technical, but at its heart, it’s a new type of database, a way of storing data. But unlike traditional databases, blockchain stores information in a series of blocks, each linked to the one before it, forming a chain – hence the name, Blockchain.