BlockChain Training in Chennai
What makes Blockchain a special technology?
There is a great challenge for the Internet in the form of security, dependability and knowledge. This needs a solution and this is analysed through Blockchain globally.
Why Blockchain?
Value is of utmost importance to a business and blockchain holds great promise in this aspect. When we consider the case of Internet, its structure had made us to exchange information very conveniently and rapidly. In the same way, Blockchain could lead to a new means of computing that lets mostly financial value to be exchanged;. There is no doubt that the conventional business model would shift to a shared economy model in the near future.
Blockchain was the forerunner in establishing trust with anonymous identities and bringing in a new life to online transaction management..
Now lets see in what way blockchain is unique:
Decentralization
Blockchain doesnt’ depend on a central point of control. A single authority doesnt govern it and this makes the system fair and secure. Decentralization can be considered as the revolutionary trait of blockchain. Since blockchain is basically a ledger of information it becomes essential that the information being stored is genuine and accurate.
Transparency
The transparency of blockchain emerges from the reason that the transactions of each public address are open to see. Moreover it cannot be changed. This will form trust among all the nodes.
Immutability
Blockchain forms a permanent and unchangeable record of every transaction. The key is that a transaction can never be changed once you have decided on it. You can eventually record another transaction so that it changes its state but you can never mute the original transaction.
Distributed Ledger
The data is stored in a distributed ledger in Blockchain. What is a distributed ledger? It is a type of database that creates several copies of the same data and share it to the nodes available in the network . This enables the participants of the network to take control of the transactions. There is no involvement of centralized or third-party here.
Secure nature
Another feature that makes Blockchain a special technology is its security. Blockchain cannot be hacked since it uses public and private keys to secure the blocks formed on the ledger.
Each block of blockchain is highly encrypted and consists of public and private keys. Due to this there is no need of firewalls. The encryption assists in securing and maintaining the distinct feature of each block.
Now that we have seen the special features of blockchain, time will only give verdict as to how disruptive this revolutionary technology is.
For more visit : slajobs.com
Contact : 8608700340
What makes Blockchain a special technology?
There is a great challenge for the Internet in the form of security, dependability and knowledge. This needs a solution and this is analysed through Blockchain globally.
Why Blockchain?
Value is of utmost importance to a business and blockchain holds great promise in this aspect. When we consider the case of Internet, its structure had made us to exchange information very conveniently and rapidly. In the same way, Blockchain could lead to a new means of computing that lets mostly financial value to be exchanged;. There is no doubt that the conventional business model would shift to a shared economy model in the near future.
Blockchain was the forerunner in establishing trust with anonymous identities and bringing in a new life to online transaction management..
Now lets see in what way blockchain is unique:
Decentralization
Blockchain doesnt’ depend on a central point of control. A single authority doesnt govern it and this makes the system fair and secure. Decentralization can be considered as the revolutionary trait of blockchain. Since blockchain is basically a ledger of information it becomes essential that the information being stored is genuine and accurate.
Transparency
The transparency of blockchain emerges from the reason that the transactions of each public address are open to see. Moreover it cannot be changed. This will form trust among all the nodes.
Immutability
Blockchain forms a permanent and unchangeable record of every transaction. The key is that a transaction can never be changed once you have decided on it. You can eventually record another transaction so that it changes its state but you can never mute the original transaction.
Distributed Ledger
The data is stored in a distributed ledger in Blockchain. What is a distributed ledger? It is a type of database that creates several copies of the same data and share it to the nodes available in the network . This enables the participants of the network to take control of the transactions. There is no involvement of centralized or third-party here.
Secure nature
Another feature that makes Blockchain a special technology is its security. Blockchain cannot be hacked since it uses public and private keys to secure the blocks formed on the ledger.
Each block of blockchain is highly encrypted and consists of public and private keys. Due to this there is no need of firewalls. The encryption assists in securing and maintaining the distinct feature of each block.
Now that we have seen the special features of blockchain, time will only give verdict as to how disruptive this revolutionary technology is.
For more visit : slajobs.com
Contact : 8608700340
Thank you for sharing such an informative post. Keep posting.
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