Bockchain technology is gaining popularity in recent years and is able to attain attention of techies. It can be defined as a digital ledger having details of every single transaction. This digital ledger is decentralized to allow access to every registered candidate and also allowing them to transmit, edit and store the details of the transactions. The blockchain technology is being used in various industries such as, fintech, real estate, manufacturing, medicine and health, travelling, and more. The blockchain industry is followed by a number of principles and also the number of advantages offered by this industry is countless. Blockchain is the most robust platform when counted on the security point of view.
Here are few more interesting topics about blockchain gaining attention these days:
Cyber-attacks on blockchain:
Being an open digital ledger, blockchain is always being questioned about its security. The answer is its strongest and inherent structure that uses per-to-peer networking of blocks to store the details of transaction. The structure of blockchain infrastructure consists of digital log files linked with each other. Each transaction made on blockchain network is locked cryptographically with the prior one to ensure the robustness of the security. Once a block is added to the file log then alteration of a single block will alter data of every single block which makes the blockchain theft free.
Economic impact on crypto currency:
Blockchain provides an easy access to the financial and capital services and hence boost up the economic growth of different countries either it is fully developed or a developing one. The properties of crypto currency authorize it to have a control over money flow and other properties like gold. This makes crypto currency potent enough to impact the world economy. Also bitcoins are a digital form of currency without any physical existence like cash; this makes it accessible anytime anywhere from any device connected with the internet.