Insights
Blockchain
The secure way of storing data in a distributed ledger that allows multiple holders to confidently and securely share access to the same information.
Importance
Blockchain technology enables innovative solutions beyond cryptocurrencies, driving profound, positive changes across business, communities and society.
Future
Blockchain will boost AI and make everything from supply chains to digital identity management smarter and more secure.
Blockchain was introduced with the conception of Bitcoin. A form of digital currency.
Provides solution to the need to eliminate the need for a trusted third party in transactions of all kinds not just financial butt all the verification of transactions to multiple random and anonymous connected nodes, all secured by complex cryptography proponents of the blockchain. Thus, creating a trustworthy system, because by removing the third-party Middleman the transactions become safer, faster and cheaper.
Blockchain is an immutable database.
End-to-end a chain of blocks come together as a blockchain. Every time a transaction occurs, a public record is made on the blockchain and it's Verified by multiple nodes all around the world. Once verified the transaction is considered legit and it's permanently added to the public record.