Introduction to blockchain technology.

about 2 years ago

Hello Friends!
Blockchain is a collection of digital transaction information. A record or ledger kept. Everywhere a record is called a block and is regular. a chain is an ever-growing list of data records. The history of Blockchain is not far away. It was first introduced by Satoshi Nakamaoto in 2008 was given.

Blockchain is designed so that no outside party can make any changes to its data. And that too Control is done through peer-to-peer networks. The Blockchain concept can be used in many ways and Bitcoin is a well-known application of that concept. And due to the provision of more efficient services and the reduction of costs, the use of the Blockchain concept in banking is very profitable. Also, the use of this is more important in the health field to store patient data confidentially and in secret voting.

The second type is the private Blockchain, access to which is authorized by its management
For users only. This type of Blockchain is suitable for organizations so that they can ensure the security of sensitive data. Collaborative Blockchain is the third type, which is often used as a semi-decentralized one. Also, it is controlled by several institutions.

The purpose of introducing Blockchain was to record and distribute digital information without editing.
The benefits of using Blockchain are many, one of which is its accuracy. Human intervention is most likely
At least millions of networked computers ensure the accuracy of transactions. as well as
Cost of transaction reporting as there is no third party intervention in Blockchain
Minimum. Decentralization of information, the other provided by it. Information about transactions is given to all computers on the network and when a new block is added, all computers on the network are aware of the update.

But there are still various problems regarding its efficiency, privacy and security, and researchers are anxious to reduce and improve them. Taking all these points into consideration, the word Blockchain
Undoubtedly, the day when all thinking entrepreneurs and planners around the world will be fooled is not far away.