Is Blockchain the Latest Revolution in Technology?
The blockchain is more like a digital ledger to store financial transactions just like a book that contains what comes in and what goes out. Unlike traditional ledger, the digital one is a lot more vast and secure with no intermediaries involved. In Blockchain, each block contains, but not limited to, a cryptographic hash of the previous block along with the transaction data. It can be used by two parties to record transactions in a secure and permanent way. It is managed by a peer-to-peer network and allows the safe transit of digital information. Why is Blockchain the latest revolution in technology? Blockchain technology was originally designed to deal with Bitcoin but now it has become the talk of the town, a revolution. During its earlier stage, the technology confronted heavy criticism and rejection but after a thoughtful revision, it came out to be more productive, more useful, and more secure. It has now become a practical way to store data i...