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: 2019-01-05
Authors : Ravikumar; Omprathap Velu;
Page : 606-608
Keywords : Block chain; Block; Bit coin; DLT and Cryptography;
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.
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