What a Blockchain can do for business is what the internet did for communication. We as technologists understand the importance of transaction transparency. Blockchain buzz is the latest revolution in the tech world. This technology has become a nightmare for hackers. Using Blockchain in any process gives the user the authenticity of the product. Blockchain applications would work to create a new world of decentralized innovations on the way to exchange any type of value today. As this technology is new, people have misconceptions about it. Technology experts is in constant research of using Blockchain technology in various Businesses. Blockchain needs expertise which is not easy to get so early.
How this works, is also an important factor to know about !!!
As each transaction occurs – and the parties agree to its details – it’s encoded into a block of digital data and uniquely signed or identified.
Each block is connected to the one before and after it — creating an irreversible, immutable chain.
Blocks are chained together, preventing any block from being altered or a block being inserted between two existing blocks.
And this is how it is difficult for the hackers to hack the whole chain, as they obviously will need each members consent to hack .
Technology is not only growing faster it is also helping us to be more secure and safe with our data and work.