Blockchain Technology

A blockchain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) is secured and bound to each other using cryptographic principles (i.e. chain).

The blockchain network has no central authority — it is the very definition of a democratized system. Since it is a shared and immutable ledger, the information in it is open for anyone and everyone to see. Hence, anything that is built on the blockchain is by its very nature transparent and everyone involved is accountable for their actions.

The Three Pillars of Blockchain Technology

The three main properties of Blockchain Technology which have helped it gain widespread acclaim are as follows:

Decentralization

Transparency

Immutability

What is Blockchain good for?

The blockchain network gives internet users the ability to create value and authenticates digital information. What new business applications will result from this?

#1. Smart contracts

#2 .The sharing economy

#3. Crowdfunding

#4. Governance

#5. Supply chain

BLOCKCHAIN TECHNOLOGY -For Trust and Future sustainable Development

We are living in a digital Era,where every transaction is happening with the help of intermediary and for every transaction a coustomer has to not only have to trust on the third-party as well as have to pay some amount in some cases. So,we are bounded with the terms and conditions of our mediator for the authentication procedure and delay.The Blockchain technology has bring a transparency and security in the field of transaction of each type.