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Blockchain Technology Write For Us

Blockchain Technology

Blockchain TechnologyBlockchain Technology Write For Us – Blockchain is a set of technologies that allow a secure, decentralized, synchronized and distributed record of digital operations to be kept without the need for third-party intermediation. To write for us, you can send us an email at contact@Inbusinessworld.com

Each of the data blocks is secluded and linked together, allowing the participation of specific users (each connected with a block). Thus, the third party transaction is not verified. Still, it is confirmed by the network of nodes (computers connected to the web), which also authorizes every update in the blockchain by consensus.

Blockchain technology fulfils the function of registering, preserving and protecting the information of any digital operation without the intervention of third parties. In other words, it operates as a shared and continually updated database, making it easy to exchange assets and manage smart contracts, among other options.

It can use in several industries in tasks that go beyond money exchange, such as accounting records, traceability of products in the supply chain, management of medical and identity records, and loyalty plans. , contracts and dispute resolution.

Blockchain Key Elements

Following are some of the key elements of blockchain technology

Distributed ledger technology

In this, all network participants have access to the distributed ledger and its immutable transaction record. In this shared ledger, transactions are recorded only once, eliminating the duplication of effort typical of traditional business networks.

Immutable records

No participant may alter or amend a transaction after it has been posted to the common ledger. If a transaction record contains an error, a new transaction must add to undo the error, and both transactions are visible.

Smart contracts

To speed up transactions, a set of rules called a smart contract is stored on the blockchain and executed automatically. A smart contract can define corporate bond transfer terms, include travel insurance payment terms, and more.

Blockchain Structures

A blockchain is a chain of blocks which hold specific information securely and genuinely. This database groups in a network (peer-to-peer). Alternatively, a blockchain is a union of computers connected instead of a centralized server, meaning that the whole network is decentralized.

There are four types of blockchain structures:

  • Public Blockchains. Public blockchains are permissionless in nature, allow anyone to join, and are completely decentralized. …
  • Private (or Managed) Blockchains. …
  • Consortium Blockchains. …
  • Hybrid blockchains.

The goal of the blockchain is to record and distribute digital information, but not edit it. In this way, a blockchain is a basis for immutable ledgers or transaction records, that cannot be altered, erased, or destroyed.

Blockchain for Industry

Industry leaders use IBM Blockchain to eliminate friction, build trust and unlock new value. Select your segment to see how.

  • supply chain
  • health care
  • government
  • retail
  • media and advertising
  • oil and gas
  • telecommunications
  • manufacturing
  • For sure
  • financial services
  • Travel and Transportation (PDF, 340KB)

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Blockchain Technology

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