The Power of Blockchain Technology and its Revolutionary Uses in the financial sector

Understanding Blockchain Technology Bl ockchain technology is a data storage technique that makes manipulating, hacking, or cheating the system difficult or impossible. A blockchain is a distributed digital ledger (DLT) of transactions that are duplicated and distributed across the network of computers that make up the cryptocurrency. With this Blockchain technology , it is comfortable to build applications where one to more additional parties can reserve transactions instantly without any need for a central authority to confirm that trades are confirmed. This is accomplished through the peer-to-peer network, in which everyone has access to a shared ledger where all the transaction is recorded. Blockchain technology contains three components: A. Distributed Ledger B. Consensus algorithm C. Smart contracts Distributed Ledger Technology(DLT)...