Hello everyone, today i'm writing about things you should know about blockchain. This article will includes some of the basic things to know about blockchain. I have written various articles about blockchain in past days.
You can find them here:
https://read.cash/@r2000/how-blockchain-is-transforming-industries-1c5adf99
https://read.cash/@r2000/advancement-in-accounting-audit-through-blockchain-56d13b91
https://read.cash/@r2000/things-you-should-know-bout-blockchainmust-know-143fdc71
https://read.cash/@r2000/making-money-through-gaming-blockchain-in-gaming-747ac613
Pioneering decentralization
Instead of relying on centralized authority, Blockchain is featured through the collection of nodes. Each node has direct access over it through private key thus making system Decentralized.
Immutable Approach
Immutable means something that cannot be changed or altered. All the information once on the block verifiable and auditable but it is not editable.
Highly Secure
As there is no central authority, no one can alter the characteristics of the network for the benefit. It uses a special disguise called “Cryptography” which adds another layer of protection.
Faster Cross Border Transactions
Blockchain offers faster cross border transactions as compare to traditional systems. Traditional systems take 3-4 days to make transactions whereas Blockchain does it more faster.
Consensus Algorithm
Consensus algorithm is a procedure through which all peers of the Blockchain network reach a common agreement about the present state of the distributed ledger. Consensus algorithm is responsible for maintaining the integrity and security of blockchain
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interesting