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A blockchain is a decentralized ledger that contains data about all transactions performed across a peer-to-peer network. Transactions are recorded by time and grouped into back-linked blocks that are crypto graphically secured and organized in chains. The transaction data contained in these blocks is immutable, and is considered to be trusted and secured. It is a revolutionary technology that will enhance cyber security and change the way businesses make transactions. The concept of the blockchain was initially described by Satoshi Nakamoto .First introduced in 2008 as the mechanism behind the crypto-currency Bitcoin , blockchain is now recognized as the most influential technology for the future of business. Since then, blockchain - based startups have appeared in various industries including banking, education, social media, and security . Pros of blockchain technology 1.Empowered Users are in control of all their information and transaction. 2.High quality data The...

To some people, the blockchain technology is a lot more promising than the cryptocurrency it was designed to support. Sure, the demand for Bitcoin is colossal at this point in time. But since it’s basically backed by nothing but sentiment, it’s reasonable to believe that the Bitcoin bubble may eventually pop-- however unlikely that may be. The benefits of blockchain, however, are more than big enough to sustain its relevance for generations to come. Without further ado, here are the most important benefits of blockchain technology 1.Decentralization This is a core concept and benefit of blockchain. There is no need for a trusted third party or intermediary to validate transactions; instead a consensus mechanism is used to agree on the validity of transactions. 2.Transparency and trust As blockchains are shared and everyone can see what is on the blockchain, this allows the system to be transparent and as a result trust is established. This is more relevant in scenarios suc...