Blockchain Technology - In Short.........

what is blockchain technology? why is so famous nowadays.

Block chain Technology:-
Block chain is the newest invention which stores the data in the cryptographs. They are processed according to the time graph. It can easily detect change in the data. It is also able to record the data between the two transactions which makes it more secured.

What is block chain?

It is time recorded data storage technique which is governed by the cluster of computers and not single system. Each block of data is bounded to each other with cryptographs. They operate with the same principle as that of cryptographs. Block chain is cheaper than the other systems. The block chain is free hence the subscription charges for few systems can be reduced.

Benefits of block chain:-

1. Decentralization:-
The single administrating system is avoided.Instead the cluster is allowed to govern the system.

2. Transparency:-
It offers more transparent environment as compared to other system.

3. Cryptographically principles are is used to store the data.

4.No one can interpret the data present inside the block chain system.

5. We can track the data or transaction steps. Hence the malpractices are avoided.

Applications:-

a. Big Contracts:-

There is great demand for the block-chain hence the projects based on the block-chain technology are in great demand

b. Sharing of Transaction:-

The transaction of two associated sites can be done in single app or website.

c. Increases Crowd Funding.

d. Predictive market can be designed.

e. IOT:-
Used in IOT application for many types of technical advancement.

f. Stock trading:-
Block chain can be used in stock trading.

Block chain is offering the more secured and cost efficient transaction technology. Hence can be used in many technical projects and firms.