About Blockchain Technology

Blockchain technology is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

Blockchain sometimes referred to as distributed ledger technology (DLT), makes the history of any digital asset unalterable and transparent through the use of decentralization and cryptographic hashing.

The innovation of a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.

What is the main goal of blockchain?

The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. In this way, a blockchain is a foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed.

There are four types of blockchain technology :

Public Blockchain.
Private Blockchain.
Consortium Blockchain.
Hybrid Blockchain.

How does blockchain work?

As each transaction occurs, it is recorded as a " block" of data.
Each block is connected to the ones before and after it.
Transactions are blocked together in an irreversible chain.

Find your answer on Blockchain Technology

1. What Is Blockchain?

Blockchain technology is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

2. Is it Possible to Create a Separate Blockchain For a Business?

Of course, it is possible. Even Though the public blockchain is open source, we can’t use it to store private records of a business or organization. So, we can leverage the open-source characteristics of the blockchain to build a private blockchain, and after the customization, A business can utilize it to store confidential business data.

3. s Blockchain Hackable or Not Hackable?

Blockchain will be embedded in Digital code and stored in a shared database that protects the data from deletion, tampering, and modification. Though Blockchain is a very influential technology, it is not entirely immune to attacks.