Skip to main content

BLOCKCHAIN TECHNOLOGY & THE INFINITE POSSIBILITIES...



Blockchain technology refers to a distributed database for all the digital transactions, which eliminates the need for the third party to authenticate the transactions.
  • Blockchains are a new data structure that is secure, cryptography-based, and distributed across a network. The technology supports cryptocurrencies such as Bitcoin, and the transfer of any data or digital asset.

It’s an encrypted database of agreements, so to speak. This means once a “deal” is made, neither party can go back and rewrite the terms. Smart Contracts––a blockchain based contract that holds both parties accountable by only completing the terms of the agreement once both parties have fulfilled their end of the bargain––is a perfect example.
:In 2016, ICICI Bank announced that it successfully executed transactions in international trade finance and remittances using Blockchain technology in partnership with a Dubai based bank Emirates NBD.

 :In 2008, a cryptographer who goes by the pseudonym Satoshi Nakamoto created a crypto-currency called bitcoin. Bitcoin is digital currency that allows you to perform peer-to-peer transactions without the help of a third party such as banks.

 : Last year,in India Andhra Pradesh to become first state to deploy blockchain technology across the administration..

 Blockchain serves as a auditing platform or ledger that is incorruptible, enforces transparency, and bypasses censorship. By tackling issues of financial, political and institutional corruption, this has the capability to create massive social change and greatly protect the human rights of every individual.
  
                                  WORKING OF BLOCKCHAIN


 In fact, blockchain can be configured to work in a number of ways that use different techniques to achieve agreement on transactions and, in particular, to define known participants in the chain and exclude everyone else. The largest example of blockchain in use, Bitcoin, employs an incognito public ledger in which anyone can participate. For more private uses of blockchain among a smaller number of known actors, many organizations are deploying permissioned blockchains to control who participates in transaction activity.

Comments

Post a Comment

Popular posts from this blog

HOW CRYPTO MARKET WILL RECOVER?

We may not think that's a very long time, but given how fast the cryptocoin market moves. Today also bitcoin is still largest crptocurrency in the market & still leading the market .The reason for  downfall of price are abundant but natural it will take some time rise but still focusing on market & seeing their the growth rate after the downfall is tremendous as its nearly about  850% growth year by year.In early stage today also user can make a good space for profit.  Roughly an asset's price won't fall far below the market's assessment of a fair price — or at least it won't stay there too long.if company stock fall on news due to their product but if company's revenue is up , the same thing happens here in past last week , we haven't seen a lot"s of sell. Usually, when Bitcoin is rising, altcoins follow. Nevertheless, it is also the other way around; when Bitcoin drops the crypto market as a whole takes a hit.Although their had been num...
Post a Comment
Read more

WEISS RATING.

BITCOIN has been ranked by the weiss cryptocurrency rating for the first time . But what grade did bitcoin get? Weiss rating has published has published the first bitcoin & crypto currency grades by any rating agency in the world. Synopsis: The new Weiss Cryptocurrency Ratings are the first by a financial rating agency. They are based on a original model that analyzes multiples of data points on each coin’s trading design, technology, and usage. The new global platform of cryptocurrencies has provided amazing profits to investors and holds great promise for the future. Millions of new investors have entered  in. Hundreds of self-declared experts have appeared to advise them. But the market suffers from lax standards, murky operators, marketing hype, and periodic market crashes.  Financial service rating company has first time ever rated 74 crypto currency on their basis of technology , usable pattern , design . BITCOIN , popularly known and gl...
Post a Comment
Read more

MYTHS ABOUT CRYPTOCURENCIES

On Feb 1st 2018  finance minister of India produce his annual budget of session 2018-2019 various important part was discussed , among all this important topic one of the craziest topic for now a days was also discussed i.e of Cryptocurrency.  Finance minister in his statement told "The government doesn't considered cryptocurrency as a legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or part of a payment system ". Does this statement show anything new or tells anything new about cryptocurrency ? form this perception answer is NO as government from the first day is saying this only.. Despite this various media centre and public created lots of myths about the use of cryptocurrency. Myths created  by media centre about cryptocurrency . limited knowledge of media centre has created panic in public about crypto currency ,looking back during a session in Rajya sabha on  Jan 2 ...
Post a Comment
Read more