What is blockchain technology and its applications?
Answers
they are the most secured algorithm (in my opinion)
if a hacker changes any thing in one block then yhe entire process stops.
its like if you break/ change one block of the chain it will ruin the entire chain.
The Blockchain is a technology based on the virtual digitized decentralized network with “blocks” of information. When you add any information in the network (e. g. transaction), you add it in all computers in the network. But if another user in this network adds his information and make a new block after yours, you can’t modify your block. However, you can edit your block if you make it editing from all computers in the network and make similar changes in one moment only. It makes Blockchain one of the best technology for saving and structure information.
1. Cross IoT application
Blockchain technology is the missing link to settle privacy and reliability concerns in the Internet of Things. Blockchain technology could perheaps be the silver bullet needed by the IoT industry. It can be used in tracking billions of connected devices, enabling the processing of transactions and coordination between devices; this allows for significant savings for IoT industry manufacturers. This decentralized approach would eliminate single points of failure, creating a more resilient ecosystem for devices to run on. The cryptographic algorithms used by Blockchains would make consumer data more private.
2. DApp
Decentralized application, or 'DApp' for short is one of the more novel ideas to have emerged from the Blockchain community. Armed with self-executing smart contracts, proponents of the technology have envisioned ways to replace everything that today requires a centralized leadership, from businesses and services to governments. And the key to executing this vision are DApps.
Decentralized applications (or DApps) are server-less applications that can be run jointly on the client side and on a blockchain, such as Ethereum. Ethereum is just one of the several open source platforms based on blockchain technology that enables developers to build and deploy decentralized applications.
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