Blockchain Technology Course And Certification

What is Blockchain Technology?

A Blockchain can be defined as a growing list of records known as blocks, that are linked together by means of cryptography. Each block of records is made up of a cryptographic hash record of the previous block, a transaction data and a timestamp. Blockchain technology has become a trending topic these days. And that is mostly because it is the foundation of the world most famous cryptocurrency known as the Bitcoin. Many governments owned and leading international banks have decided to bring up many of their conventional transactions based on the concept of Blockchain. The applications and potential of this Technology are very huge and are generally considered to be changing the means by which transactions are carried out in various fields.

In present times, there is a lot of activities on the Blockchain Technologies. Most People have described this as the most disruptive technology in the past 15 years. Especially here that the financial markets are the one that is mostly affected.

The applications of Blockchain Technology are now being adopted into many sectors like healthcare, medicines, smart Properties, insurances, automobiles, and even in government areas.

Features of Blockchain Technology

There are many features of Blockchain Technology and some of them are:

1. Blockchain as a data structure: A Blockchain is defined as a growing record of data, that is stored as virtual blocks. In Bitcoin’s implementation of Blockchain, for example, the data that is being recorded here is Bitcoin transactions. The structure of Blockchain starts with a single block that is known as the genesis block. As the amount of data that is recorded on the system start increasing, more blocks keep getting added to the chain.

2. Immutability and tamper detection in blockchain: Data that is being stored in the Blockchain Node is made very secure and immutable by means of cryptography. Every block is directly referenced to by a unique string of characters that is generated by a cryptographic hash function. This function can take in any amount of data as its inputs and then generate a fixed-length string as its output.

3. Data protection in blockchain: Instead of employing a physical or an online account that has to be maintained and managed by a third party (such as a bank), every unit of the cryptocurrency is stored on the Blockchain itself. Users can securely access their cryptocurrency by using their private and public keys together.

4. Relative user anonymity: Basically, only the digital addresses with its corresponding units are seen on the Blockchain network, while keeping the users' identities private. The use of public-key cryptography lets the various Blockchain Technology to be distributed across the world while making sure that the user's anonymity is enforced.

Benefits of Blockchain Technology

1. Blockchain Technology provides a means for user verification without having to depend on third-parties like banks.

2. Blockchain Technology uses protected cryptography to secure the various data ledgers. Also, the present data ledger depends on its adjacent completed block to complete the process of cryptography.

3. All the transactions and data are directly attached to the block after the various process of maximum trust verification.

4. The transactions in Blockchain technology are stored in chronological order. Hence, all the data blocks in the Blockchain are time-stamped accordingly. 

5. The ledger is spread across every single node in the blockchain who are the participants in it. So, it is distributed.

6. The transactions stored in the data blocks are held in millions of computers that are participating in the chain. Therefore Blockchain Technology is a decentralized network. There is no possibility of recovery of data if lost.

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