Pros and Cons of Blockchain Technology
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...