Blockchain Technology

Blockchain is a technology that enables bitcoin or any other services to be accessed from one individual to another. Just like a person A has to transfer money from one country to another person B, then a third party is needed for that, such as bank, paypal, weston union etc and this process takes from one day to 3 days. May, and may also incur some additional amount charges. Now talking about blockchain, with the help of this, you can transfer the same money in a few minutes, And there is no extra charge of any kind. In this, the transaction fee is also much less than the rest.

Blockchain was invented by "Satoshi Nakamoto" in 2008 to serve bitcoins. This is a technology with the help of which we can transfer money even to a person sitting in another country, without the help of any banking sector. The blockchain was started for normal bitcoin, but now it has also introduced a lot of etcans. Blockchain is an open ledger, all the people who live in a network have complete information about when a user is transacting.And how much money is being transacted. Through blockchain it can also be decided which transaction is valid, and which invalid. Whereas nothing like this is possible in technology. There is also a complete system of backup in it and every transaction we make is also in every computer system.

It is difficult to hack in any way. Because for this, hackers will have to hack thousands of computer systems simultaneously. That's why blockchain is a safe technology. It was first used in 2008 for digital currency bitcoin. Bitcoin is a decentralized crypto currency. Which is not under any country or any bank. Blockchain originated from crypto currency but today it is also used for government sector and public.

In the coming time, all the works of the government sector and public sector work will also be done through this blockchain. In these works, mainly property related works are used. Such as the legal document of the property, which is taken by the public sector. This is a kind of prove in which this property is named or who is its owner. All these important works will be done through blockchain in future. Because no type of data can be deleted or hacked into it.

The very special thing in blockchain is that in it, many computers of the world work together, all of them have the same data save. Now talk about local transaction, we are unable to do that work when computer is turned off. Today cripto currency is being used in blockchain. In the coming times, the banking sector will also work on blockchain technology. Because it is easy and very desirable. Blockchain technology is a distributed database that exists on many computer systems, not on one computer.Each blockchain computer also keeps a history of each of its data. And this data is completely confidential.

Blockchain is used to provide safe and secure service to any data. In future, every department will adopt blockchain technology. Any university degree or passport, if all these records are kept on the blockchain, then there will be no problem of its hack. And no fake passport of any kind can be made. Third party corruption can also be avoided with the help of blockchain.

It is now to see how blockchain technology is used in the coming times. And how long it may take to arrive.