Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network . An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).
Read moreWhat is Blockchain technology with example?
A Blockchain is a chain of blocks that contain information . The data which is stored inside a block depends on the type of blockchain. For Example, A Bitcoin Block contains information about the Sender, Receiver, number of bitcoins to be transferred. The first block in the chain is called the Genesis block.
Read moreWhat are the types of blockchain technologies?
There are four types of blockchain structures:
Read moreWhy are Blockchains bad for the environment?
It is estimated that each Bitcoin transaction uses around 2100 kilowatt hours (kWh), which is roughly what an average US household consumes in 75 days. When this energy is supplied from non-renewable energy sources, cryptocurrencies like Bitcoin can generate exorbitant greenhouse gas emissions .
Read moreCan blockchain disappear?
Blockchain has gone far beyond its beginnings in banking and cryptocurrency and there is no going back . Blockchain is a decentralized database in peer-to-peer (p2p) architecture used to store and send information about transactions or payments.
Read moreWhat is a blockchain article?
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system . A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
Read moreIs blockchain just a trend?
Blockchain is one of the most exciting tech trends at the moment . It is a distributed, encrypted database model that has the potential to solve many problems around online trust and security. Many people know it as the technology that underpins Bitcoin and cryptocurrencies in general.
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