The blockchain is a genius invention of a person or a group
of person that is simply known by the pseudonym, Satoshi Nakamoto. But since
then, it has developing continuously in greater way. This is the reason every
single person is asking only a single question what is blockchain? How it works
and what are its future uses and all. If these same questions are also arising
in your brain then now you are not necessary to move on any page. Here, we are
providing you entire information related to blockchain, its uses and future
also. so, stay tuned with us and go through the entire page.
According to Don & Alex Tapscott, authors Blockchain
Revolution, “A blockchain is a digital record of economic transactions that can
be programmed to record not just financial transactions but virtually
everything of value.
In simple words, “a blockchain is a time-stamped series of immutable record of data that is controlled by not even single identity even by the group of computers. This record that is also known as blocks of data is secured and bound by using cryptographic principles.
Now, a question arises in mind that how it works. We will
tell you main aspects of blockchain working. There are some important points
are include in working of blockchain that has mentioned below.
Peer to peer network
Byzantine Fault Tolerance
Proof of Stake
Delegated Proof of Stake (DPoS)
Proof of Work & Mining
Some of the technology applied in our day to day life. For example, if you are using wattsapp then if you use encrypted message through cryptography on a daily basis. Some are less commonly used like P2P networks, whereas consensus protocol are specialised to blockchain.
Blockchain is used in many wide fields at very promising
nature of different industries and business. Here, we have mentioned 2 main
uses of blockchain.
Blockchain has the capacity of improving transparency and
accountability across the supply chain. There are many applications are used
for tracing and track materials back to the source, prove authenticity and
Through blockchain, frauds can be controlled and improve
back-office functions like purchasing. It is also looking for the chance
through which it can serve as the official registry for government and citizen-owned
assets like buildings, houses, vehicles, and patents.
As blockchain become very famous for its role in
facilitating the rise of digital currencies over the past several years. There
are so many a chance has increases the future uses of blockchain in various
In a traditional way, border payments are done through
different banks as a currency varies from one country to another country.
Blockchain has the potential to provide faster and secure transaction
traditional cross-border payments methods.
Blockchain has the potential to get smart contracts, as it
is essentially limitless and could extend to almost any field of business in
which contract law would normally apply.
I am a freelance blockchain writer. Having 4 years of experience in blockchain industry, I have written many articles and blogs on cryptocurrency. My goal is to work with dedication, deliver accurate and transparent information that helps to companies and users to grow.