“A Blockchain is a decentralized digital ledger of economic transactions that is used to record transactions in between computers, that the record cannot change the sequence of blocks and collusion of the network. Transaction means not just financial it be virtually everything of value”
More than 50% of the world’s big companies are seeing into blockchain technology, according to a study by U.K. research firm Juniper Research.
The researcher found that 57 percent of large corporations – defined as any company with more than 20,000 employees – were either actively considering or in the process of deploying blockchain.
And two-thirds of companies surveyed by Juniper said that they expected the technology to be integrated into their systems by the end of 2018.
Now a days blockchain technologies are using more for transaction from system to another of virtual currency (cryptocurrency) like bitcoin, Ethereum, Litecoin etcs. Even cryptocurrency values is increasing as an exponential way.
What is Blockchain?
Simple way we can say that blockchain work one computer to another computer transaction(peer to peer transaction) without any centralized system. All transaction record are store online in a sequence of block connects each other.
How a Blockchain work?
Features of Blockchain:
- Durability (Be controlled by any single entity).
- Robustness (Has no single point of failure).
- Transparency (data is embedded within the network as a whole, by definition it is public).
- It cannot be corrupted (altering any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network).