ResearchBib Share Your Research, Maximize Your Social Impacts
Sign for Notice Everyday Sign up >> Login

Blockchain Technology has the Ability to Change the Face of New Business

Journal: International Journal of Science and Research (IJSR) (Vol.8, No. 1)

Publication Date:

Authors : ; ;

Page : 606-608

Keywords : Block chain; Block; Bit coin; DLT and Cryptography;

Source : Downloadexternal Find it from : Google Scholarexternal

Abstract

Block chain Technology first emerged as the system underpinning bit coin, it is also known as distributed ledger technology (DLT), a shared record of information that is maintained and updated by a network of computers rather than a central authority. It is protected and secured by advanced cryptography. At basic level block chain is a digital platform for recording and verifying transactions. User A wants to send money online to user B this transaction is called a block, this block is broadcasted across the transaction network for verification by Peers, the peer-verified blocked is added to an unbreakable, un-hack able chain of other verified block. This chain provides a transparent record of transactions, now that the transaction is verified and recorded, the money moves from user A to user B. This paper will help you understand the technology and visualize its business implication in the present& future.

Last modified: 2021-06-28 17:20:55