The blockchain is dependably an entangled and questionable subject for a person. The innovation isn’t just about bitcoins and cryptographic money. It really speaks to the new way innovation recording data and handling innovation. Blockchain really tackles the trust issue when two-party trade the monies.
Cryptocurrency – It is an online currency and assets.
Bitcoin – It is one of the most famous cryptocurrencies held by blockchain technology.
Mining – The mining process involves collecting the transaction into blocks and trying to solve the computerized transaction puzzle.
Advantages Of Blockchain:
- Once the transaction is done over blockchain, it can never be revert back.
- A transaction is only committed when all parties are on verified network transaction.
- The entire history of the transactional and assets only available on the blockchain.
- Your transaction detail information is secured.
- Blockchain industry increases the speed and efficiency of transaction activity.
Future Of Block Chain Technology:
- Eliminating Trusted Third Party- Most of the financial institutions today operate themselves as a third party company. Soon in the future, blockchain technology eliminates the third party concept.
- Block Chain will protect self-driving cars- Cyber security is always the concern in the self-driving cars. With Blockchain technology, the decentralized method of distribution would make every driverless car on the road essentially secured.
- Block Chain in 2018 beyond Bitcoin- Most of the people think that bitcoin is the synonym of blockchain technology, but in reality Blockchain technology as an encrypted database structure that is revolutionary and exciting.
- Secure Internet of the future- This is one of the greatest features that Blockchain provides incomparable security in an unsecured internet where phishing and malware create the danger for your business.
- Block Chain for digital marketing- Digital marketing faces a problem like domain fraud, lack of transparency and long payment method. But with the blockchain technology, it brings transparency to the supply chain in the market because it essentially conveys trust to a trustless environment and it improves the digital marketing.