Blockchain


Blockchain technology

 Technology is rapidly developing, which might be a new or upgraded version of the old. All these effort putting their footsteps forward towards a user-friendly environment. The sack of the same blockchain was developed in 2008. Blockchain is an open-source ledger that has the ability to record transactions between two or more single party accounts effectively and with the highlighting feature of verifying the authenticity of every end-user details.





Initially, it was designed to serve the users of cryptocurrency bitcoin but now days are used in other decentralized networks such as ethereum.
Blockchain has brought a revolutionary change in the field of digital currency which has a strong foundation of each end secured transitory system.



As the name suggests blockchain is basically a community or group of people connected over a network in which they practice their transactions. The word ‘block’ means the set of a database of each and every user and when put together on a network resembles the word ‘chain’. The involvement of even banks and other third parties is required. As on a single network lakhs or even millions of computers system or other devices are directly or indirectly linked which make it next to impossible for a hacker to do any malpractice.


Nowadays blockchain is being explored to be a secure and a cost-effective way to create and manage database and maintain the records of digital transactions over both private and public protocols simultaneously.


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