BLOCKCHAIN TECHNOLOGY CRYPTOCURRENCY AND BITCOIN

BLOCK CHAIN SIMPLIFIE

BASICS OF BLOCKCHAIN

It brings a trust in both record keeping as well as financial transactions.

COMPUTER SYSTEM ON THE BLOCKCHAIN:-

WHAT IS DLT:-

Every block is the chain contains a number of transactions.In new transaction a record of transaction adds to ledger of all participants.

Distributed Ledger Technology (DLT) is a decentralised database of multiple participants.

WHAT IS HASH:-

Hash is a immutable cryptographic signature and records with multiple blocks.

If one block of one chain was changed then this would be immediately apparent that it had been tampered with.

Blockchains the ledger.

HYPE ON BLOCKCHAIN TECHNOLOGY:-

In past people tried for digital money. But the attempts was unsuccessful. So the prevailing issue is trust. If someone creates a new currency called the X dollar and how can we trust them that they won’t give themselves a million X dollars and steal your X dollars for themselves?

BITCOIN:-. BLOCKCHAIN is the specific types of database and used in BITCOIN.In most normal databases like an SQL database and have someone in charge and they can change the entries (e.g. giving themselves a million X dollars).

BLOCKCHAIN IS DIFFERENT:-

Blockchain is different as nobody is in charge.People run it and use it. What’s more, bitcoins can’t be faked, hacked or double spent – so people that own this money can trust that it has some value.

LIBRA NEW AGE CRYPTOCURRENCY:-

Understanding a leveraged specific aspects of blockchain technology to launch a new cyrptocurrency called Libra, and its potential impact on the banking and finance sector.

BITCOIN AND BLOCKCHAIN:-

The difference between blockchain and Bitcoin.

Many people wrongly conflate the two. Do you know the difference?

PUBLIC RISKS:-

The risks with public blockchains

Understand the three main risks associated with public blockchain.

1)Storage of data

2)Security of Data

3)Management of Data

http://www.euromoney.com

CRYPTOCURRENCY-BITCOIN

Dear Readers,

Kindly give us your opinion on the followings

Your opinion future of Paper Currency.

EFFECT of 5G on BLOCKCHAIN and CRYPTOCURRENCY

Future of Fake Currency

Love to read your reply 💝.

Published by Sima Sarkar

I am Anjan.I am a freelancer.I am trying to write day to day human issues.I want to highlight issues related to 'Mother Earth' as well.

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