The astounding surge in the price of cryptocurrencies in 2017, most notably bitcoin’s rise from around $1,000 at the start of the year to over $19,000 currently, has been powered by the innovative distributed ledger technology known as the blockchain. The blockchain supports cryptocurrencies and other applications where a secure, transparent record of transactions is required. It enables these transactions by using distributed computer networks to record and store transaction data, eliminating the need for third-party validation. This revolutionary technology has enabled the ever-widening adoption of cryptocurrencies such as bitcoin, Ethereum and Litecoin, while leading to big gains in the stocks of companies which support or develop blockchain technology. Among the companies which stand to benefit from the increasing acceptance of the blockchain and cryptocurrencies are Victory Square Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6) (VSQTF Profile), Riot Blockchain, Inc. (NASDAQ: RIOT), Hive Blockchain Technologies LTD. (TSX:HIVE), MGT Capital Investments, Inc. (OTCQB: MGTI) and Glance Tech (CSE: GET).
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