The BLOCKCHAIN has become the talk of the web in the last decade or so. Many startups with billions of dollars in funding working towards developing blockchain technology. So one wonder what is this blockchain??
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network, or in simple terms a Blockchain is a chain of blocks that contain information. Data stored in a blockchain depends on type of blockchain. The most important attribute of blockchain is its security. The ledger on which it provides information is immutable and can be accessed only by persmissioned members. A blockchain network can track orders, payments, accounts, production and much more.
See the case of bitcoin. It is a decentralized digital currency penned by anonymous Satoshi Nakamoto in 2009. Today bitcoin's market cap is around 380 billion usd. Other coins like etherum, Saolana, tether, Luna are reaping the benifits of blockchain technology to create a new digital currency.
Blockchain is not only limited for crypto coins but can be used in websites to make them more secure, computationally powerful also using AI and ML to make the site more intelligent and adaptive to user's choice.
Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value. -- Eric Schmidt, former CEO of Google,
Whatever is the case we can't unnotice that web 3.0 is about to begin and already started in some places. Sooner or later our world will understand the influence blockchain is going to have on the future.
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