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Showing posts from November, 2021

Is Blockchain the new buzzword of the future?

  Is Blockchain the new buzzword of the future? Blockchain is a system of recording information to make it challenging to modify, change or hack the system. Blockchain, a digital ledger, transactions are duplicated and distributed across the entire network of computers on the blockchain.  Each block of the chain contains many transactions.  A record of that transaction is added to every participant's ledger whenever a new transaction occurs on the blockchain.  Blockchain technology is a distributed ledger technology (DLT) in which transactions are recorded with an immutable cryptographic signature called a hash. Though this technology came into existence with bitcoin, blockchain has a far-reaching potential outside today's cryptocurrency. Besides cryptocurrency, blockchain provides various applications in financial services, supply chains, and the public sector. Some of the applications are given here. 1. Bank online transactions Banks can make faster transactions using blockch