Blockchain is the world’s most popular digital technology. And with good reason!
Blockchain is a reliable, secure, and safe way to provide people and businesses the opportunity to do transactions without third parties. The integrity of the database, and the consensus process, make it tamper-proof and immune to outages. And with immense amounts of applications in a variety of industries – it will only continue to grow.
Blockchain is a public ledger of transactions that can be shared among different parties. It consists of blocks of information that are connected to one another through cryptography. These blocks are secured and linked using a chain of blocks in chronological order, which makes it virtually impossible to tamper with any data in the system without leaving a trace. In other words, a blockchain is a digitized, decentralized public ledger of transactions that cannot be altered without the alteration of all subsequent blocks which are linked to the original block.
Blockchains are most often associated with bitcoin and other cryptocurrencies, but they could receive their data from any number of sources including computer programs or sensors.
Blockchain technology was first described in 1991 by Stuart Haber and W. Scott Stornetta, two computing scientists who wanted to create a financial transaction system without the need for third-party verification. Blockchain technology provides a decentralized way to store data, where data can be accessed by anyone on the internet.
Blockchain may be used for various purposes such as finance, supply chain management, and voting, just to name a few. Blockchain increases transparency because every participant in the network has access to all information stored on its ledger. This eliminates the need for third-party verification, creating accountability across all networks and systems involved with any given transaction within the blockchain network.
So we can say:
#Blockchain: Simplifying Transactions.
#Blockchain: The ultimate trustworthy transaction solution.