View attached explanation and answer. Let me know if you have any questions.1Chapter 8: Blockchain Technology and Citizen EngagementNameInstitution of affiliationCourseInstructorDate2Chapter 8: Blockchain Technology and Citizen EngagementThe implementation of blockchain technology has positively influenced economicgrowth since many investors are adopting this new application as it bears numerousadvantages than limitations (Härdle et al., 2020). Blockchain technology of late is being usedby numerous domains when securing applications and when there is no third party in suchtransactions. Both financial institutions and banking sectors are developing applications usingblockchain technology, which has seen the growth of cryptocurrencies.The most popular cryptocurrency is Litecoin, according to Härdle (2020). Litecoincan be described as decentralized money free from control, and anyone can acquire it.Litecoin is characterized to be secure, easily accessible, private, and with no restriction toanyone. Härdle (2020) argues that they are widespread since the modern world considersth…
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