Basics of Blockchain
The advent of blockchain tech brought about a drastic change in several fields of computer science and its applications, arguably, molded the way we live now and such changes occurred in the short span of a decade. Blockchain is the brainchild of an unknown John Doe, introduced in a paper in October 2008 under the name Satoshi Nakamoto. The blockchain technology developed by Nakamoto was not entirely a discovery but a unique method that synchronized three fundamentally different fields, namely Distributed Networks, Cryptography, and Network Servicing protocols. Blockchains, formerly known as blockchains, are distributed ledgers managed by a peer-to-peer network collectively adhering to certain protocols for communication between nodes. Blockchains are highly secure and are often employed in the transaction of digital assets.
Blockchain – Into the Future
Accounting, transactions, contracts, and records play a pivotal and defining role in our societal system. They protect assets, and organizational boundaries and uphold the promises between institutions, governments, and corporations. Despite their importance, these have failed to digitize in ways other sectors have. Blockchain technology offers a solution to this. But the touted revolutionary technology is much more than just this and we are yet to realize its limitless potential.