Learn Blockchain for beginners

Learn Blockchain for beginners

Today ''cloud'' and "Blockchain" technologies are heavily demanded in worlds.Currently people and market both are moving towards latest technologies. Blockchain technologies is one of them fast forward growing technology, that even those who does not heard of cryptocurrency or know how its working ,are looking to invest and explore this field. This Block chain tutorial blog will guide mostly who want to learn Blockchain for beginners. Using this blog anyone knows about the fundamental knowledge regarding Bitcoin and blogchain.

Blockchain play main role of the entire crypto-currency system.It not only helps with the users perform transactions using crypto-currencies but also provides the security and anonymity of the users involved.It is a continuously growing list of records called blocks,which are linked and secured using cryptographic techniques.

A blockchain is list of transactions that's stored on many different machines.Also it is called a "distributed ledger",modifications to this transactional list are replicated to all connected machines or "peers" very quickly.It is implemented as a piece of software. in theory,this software contains a local database with its own replicated dataset,capabile of notifyign other peers when data is changed and guranteeing that all the peers maintain the same data.

Where we can use Blockchain :

• Voting System : Blockchain technology provides all of the characteristics you would want in a system that is very important part of the democratic society;It's is not secure ,very less trustful,you cannot change the past,you can;t alter the access to the system,and every vote can be irrefutably traced to its source without sacrificing a voter's vote anonymity. End to end verifiable voting systems will give the voter the ability to verify if their vote is correctly recorded and counted.for example, if a ballot is missing ,in transit or its modified,we can easily detected all by the voter and caught before the election is over.we can provide best trustful election result using this technology.

• Record Management : currently county,state and local governments are responsible for maintaining individuals's records i.e birth ,death dates,marital status data.This work is very complex to maintain,sometimes if any people want to changes their data they have to go their local office to make changes,which is time consuming and frustrating. Blockchain technology can simplify this record keeping and make them far more secure.

• Secure payments : This makes it excellent for international payments and money transfers. Julio Faura, Banco Santander's head of R&D and innovation, told BI Intelligence that the bank is particularly interested in the potential of the technology in the payments space.

• The supply chain: Tracking the location of goods as they are shipped, and ensuring that they stay within specified conditions.

•  Asset tracking: Monitoring assets and machinery to record activity and output as an alternative to cloud solutions. 

• Health care: Enabling logging and sharing of medical data between numerous stakeholders with versatile permission, directly holding some data while offering encrypted links to other information.

For more details about Blockchain you can use below site.

References | https://www.blockchain.com/

Tag | blockchain wiki,blockchain technology wiki,blockchain definition,blockchain technology applications,blockchain technology explained,blockchain technology in banking,blockchain for dummies, blockchain login

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Purpose :

The greatest advantage of Blockchain technology is that it is public; hence, every single participant can see the transactions and blocks stored in them. However, it does not signify that all can see the actual transaction content, which is protected by a private key. In other words, there is a big amount of trust involved in the Blockchain process as all the network participants rely on a consensus to accept the transactions. What makes it even more secured is that in Blockchain the database can only be extended but previous records could not be altered by the participants.

·        There are two main types of Blockchain- public and the private.· While with a ‘Public Blockchain’ anyone can read and write data (like with Bitcoin), with ‘Private Blockchain’, all participants are known and trusted and so it is useful between organizations that belong to the same legal mother entity.

·        This decentralized approach of Blockchain technology not only reduce single failure point, but it also helps in building a more resilient ecosystem for data to reside (using cryptographic algorithms) to make consumer data more private that provides the silver bullet for blocking the missing link for settling privacy, scalability, and reliability in platforms like CRM and others.