04
May
2019

Blockchain Technology

It is the technology after Bitcoin.It is digital transformation where data is saved in digital blocks and all blocks are interlinked.”Blocks” in Blockchain made of digital pieces of data. It is categorized in 3 forms :-

I. Blocks stores the information about transactions ,we can say date, time and amount in any currency from where you belongs to of your most recent transaction in Bank.(This Example is just to give you an idea of Blockchain how it works).Many of U.K and U.S.A bank have already get into in this Technology.

II. Blocks stores information of user who did transactions. A block for your purchase from anywhere would record your name with company name.

III. Blocks store information that differentiate them from other blocks. Block stores a unique code called a “hash” that tell us apart from other blocks.Even though your new transaction will be identical like your old transactions but we can differentiate them through there unique codes.

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