Blockchain is the only technology that can change the world of finance, healthcare, IoT and many more.
Introduction:
Let’ start. First, what is “Blockchain”?
Blockchain is a chain of block in a shared, immutable and distributed ledger that facilitates the process of recording transactions secured by cryptography. We can also track assets using blockchain technology.
Important features of Blockchain
- Distributed ledger.
- Immutable data.
- Smart Contracts.
- Secured by cryptography.
- Transparency.
- Asset tracking facility.
Use of Blockchain:
- As a digital currency (Crypto Currency).
- NFT(Non fungible token).
- Healthcare Industry.
- Financial Industry (DeFi).
- IoTs.
- Voting Process.
- Energy Sector.
- Supply Chain Management.
Disadvantages of Blockchain:
- Energy Consumption.
- More Hardware Required.
- Slow Network.
Conclusion
Blockchain is not a fully matured technology, a lot of research is happening in this field. Companies are pouring money like crazy. Big organization over the world like IBM , working on blockchain.
Some Resources, Investopedia, Wikipedia for further information.
Thank you.
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