What is Blockchain technology?

Question

Can anybody please explain about Block chain technology and its future scope in industries?

Answer 1

This is why Sololearn is a competitive place @Apoorva

Answer 2

https://en.m.wikipedia.org/wiki/Blockchain
https://blockgeeks.com/guides/what-is-blockchain-technology/

Answer 3

This article will help you https://blockgeeks.com/guides/what-is-blockchain-technology/

Answer 4

https://blockgeeks.com/guides/what-is-blockchain-technology/

https://medium.com/animal-media/2017s-ransomware-attacks-could-blockchain-technology-have-prevented-them-ed9ca6bf348b

In plain terms, it means a decentralized system having multiple decision points for carrying out simultaneous bitcoin transactions. It's very transparent and allow no chance for cheating. Banking and Finance institutions use it more than any other industry. It's a huge concept.

Answer 5

@sisy @sahu @jfs Thanku guys👍 If anyone has other explanations please post here🌹

Answer 6

Lol @Kartikey missed by a sec!

Answer 7

To be honest, you copied my answer. 😂😂

Answer 8

Currently it is almost entirely limited to cryptocurrencies (such as Bitcoin). However, many companies including Microsoft are exploring this technology.

Answer 9

+1 @chestmonster definitely blockchain is the key of all technology including vr, ai, ar, drone etc.. i believe there are something to do with coding & programming industry. I also believe that in the next era of digital(not in the next 5years) all things like home, property, shopping mall when to digital based.

Answer 10

Blockchain is a type of decentralized database that works as a type of ledger for financial transactions to manage and store. Every record in the database is known a block and contains aspects like the transaction timestamp as well as a link to the previous block. This makes it easy for the authorized users to access and difficult for the unauthorized ones. Also, due to the fact that the same transaction is captured many times—distributed database systems, the technology now becomes secure by design. Learn more here: https://mindmajix.com/how-does-blockchain-technology-work

Answer 11

https://goo.gl/6BoZe9

Answer 12

This has a good explanation
https://wp.me/p9exO6-4q

Answer 13

Technically, it is a decentralized , distributed and public digital ledger that is used to record transactions across many computers, so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks. Blockchain was invented by a person (or group of unknown people) using the name Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin.

http://net-informations.com/q/mis/block.html

Answer 14

Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.

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Answer 15

Hello

Blockchain technology is a decentralized system where data is securely recorded in linked blocks, making it difficult to tamper with. Its future scope in industries is vast, with potential applications in finance, supply chain, healthcare, voting, and real estate, offering enhanced transparency, security, and efficiency. Refer :https://www.igmguru.com/erp-training/sac-analytics-cloud-online-training/