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Blockchain Technology

what is a Blockchain technology ?

The blockchain is a morally sound advanced record of monetary exchanges that can be customized to record not simply budgetary exchanges but rather basically everything of esteem."

Blockchain allows the Digital Information to be sharable,but not copy,Blockchain is supports the internet like a backbone.

Blockchain is an acceptable invention,The main question in every single person is: What is Blockchain Technology?

Bitcoin has been called as "Digital Gold".its has a good reason to called like that.As like Bitcoin,Block chain can also make another type of digital value.You don't need to know how the Blockchain system works to use it.However if you have a basic knowledge on this technology,then you know why this technology considering as revolutionary.

BlockChain system overview

A distributed Information

A distributed information like Documents,spreadsheets and Portable Document Files can copy to the thousand of times over the internet.But this Blockchain technology designed to update it's regularly.Definitely this type of database helps us more.Because of Database of Blockchain system can't store in a single location and single server.Means that the records it keeps are genuinely open and effectively certain. No brought together form of this data exists for a programmer to degenerate.Hosted by the Millions of computers simultaneously.

Transparent and non-corruptable

Blockchain system lives in the form of consenus.Automatically checks it's self for every ten minutes.which means it can automatically self updatable.And i will upadate each and every transaction happens with in ten minutes.

  • Transparent  Data is maintained with in the network,Anyone can monitor the data,so it is Public
  • Non-Corruptable This Blockchain system's data hosted by thousands of computer networks symaltaneously,so it can easily track and moniter the inconvinience activity,so it is non-corruptable.

It's a Network of Nodes

The Blockchain system networks worlks based on the thousands of systems.

Every node is an “administrator” of the blockchain, and joins the network voluntarily (in this sense, the network is decentralized). However, each one has an incentive for participating in the network: the chance of winning Bitcoins.

Nodes are said to be “mining” Bitcoin, but the term is something of a misnomer. In fact, each one is competing to win Bitcoins by solving computational puzzles.

Blockchain system's Node-Node connection

In Blockchain system each and every node connected with another number of nodes,so that means information is distributed to lot of computer nodes.that means each and every node contains the data.

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