What is blockchain technology?

The blockchain technology is the internet revolution these days. It is on trend and growing itself very fast. The purpose of this discovery that till now many places we are using data server for securing information, the data server is like an internet hub where we store the whole information and accessible by a single person or authority person.

The centralized technologies we are using currently in the banks, financial groups, software companies, call centers, and all the government and private sectors. A centralized system is updated day by day and making the server very heavily. On the other hand to we are using cloud computing for keeping the server lightweight.

Blockchain

As well as we are seeing the negative side effect of cloud computing. For using cloud computing, we have to suffer extra expenses means if we upload the whole data on the cloud basis so we have to need extra space for restoring it. When cloud computing technology was launched so this was an interesting step for the modern generation.

The blockchain is the newest and best way to send and receive data in a very safe manner. Suppose A initiates the data creating block format and the block divided into thousands of the computer at a time in an only virtual format where the hacking and editing impossible. Blockchain has three pillars because of it acquired comprehensive plaudits are as follows-

Decentralization
Transparency
Immutability

Decentralization: Before the launching of bitcoins and bit torrents, everyone is using centralized data system if we are talking about bank system, the bank follow the centralized server or cloud-based server means within the centralized system all data are stored in a single entity and access by a specific one. In a decentralized system, data is not stored by any single entity, each and everyone in the network controls the data. Decentralization means that if we want to interact with our colleges so we would not need to the third party.

Transparency: In these days, regarding blockchain, many people are getting confused and giving different votes like that it has good privacy or it is transparent. But one of the best things is that it is transparent and secured, everyone can access the data from anywhere. Seeker and the professional hacker cannot hack the data because data is nowhere exists.

Immutability: one of the most interesting things about blockchain is immutability. Suppose that someone entered the blockchain so he cannot be misused of that, that’s called immutability.

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