Blockchain

 Block Chain

Blockchain is a new emerging technology, that has too many beneficiaries for humanity. Provides dynamic solutions to human problems. Most people consider that cryptocurrencies are blockchain, But actually, Blockchain is a very vast field of technology and crypto is only one part of this technology.

Discovered By: 

This technology first came out lined in1991 by two mathematicians named Stuart Haber and W.Scott Stometta, they want to launch a system where document timestamps could not be tempered. 

Invented by:

It was created by unknown persons behind the online cash currency bitcoin, under the pseudonym of Satoshi Nakamoto.

Definition of Block Chain:

Blockchain is a system of saving & recording information in such a way that no one can cheat, hack, or change the records.

         A blockchain is a digital ledger of transactions that is duplicated and distributed across the entire network of a computer system on the blockchain.

Working:

A blockchain is a distributed and decentralized public Digital Ledger that is used to record any transactions across many computers, so the record can not be changed without the alteration of all subsequent blocks and the consensus of the network.

Example:

Ethereum is an example of Block Chain. In this platform, users can also create programmable tokens and smart contracts which are built directly Infrastructure of the Ethereum blockchain.

Importance:

In Crypto Currencies Data, hacking, change of data, theft, and corruption all is not possible. A complete network of blockchains works through a computer system, it’s a digital ledger of transactions that is replicated and distributed across the blockchain network.

Benefits of Blockchain:

1- Industrial automation and Artificial Intelligence.

2- Transparent AI with a multidimensional approach.

3- Business Analytics & Competitive Advantages.

4- Data, lake, Fabric, Management, and quality.

5- Customer Experiences.

Future of Blockchain:

Blockchain is now at an embryonic stage and has a lot of scope for the future of the human world. The competition will be lesser in terms of job opportunities.

Types of Block Chain:

Blockchain is a ledger technology, the basic function of blockchain is to perform a  secure transaction in a secure network. There are four main types of Blockchain.

1- Private Blockchain.

2- Hybrid Blockchain.

3-Public Blockchain.

4- Consortium Blockchain.

Each of these types of Blockchain has its own drawbacks, benefits, and their own ideal usages. Blockchain-based contracts are becoming more popular in government, health, and real estate industries. Companies use blockchains to make contracts smarter. Travel, health care, education, and finance are more important in the caliber of blockchain.

Blockchain allows people to trade directly, with each other by keeping a record of transactions, kept in a shared ledger, this system eliminates the need for middle stands like Banks and Stock Exchanges.

Building a New Blockchain is your first step:

You have to Follow these steps,

1- Choose a Consensus Mechanism,

2- A Blockchains Operating Protocol, is also known as its Consensus Mechanism. 

3- Design your Blockchain architecture.

4- Adit Your new Blockchain and its code,

5- Verify Legal Compliance.

 Language of Blockchain:

Blockchain programming developers support the use of C++ as it is decently abundant in terms of run-time polymorphism, function overloading, and multithreading. It allows developers to mold the data according to their needs. C++ is one of the top ten programming languages, was discovered in 1985 by Bjarne 

Stroustrup.

Bitcoin:

Bitcoin is regarded as the first decentralized cryptocurrency to use blockchain technology to facilitate payment and digital transactions.