Blockchain technology has become a buzzword in recent years with a public ledger or a distributed database. It stores the executed and shared digital events or transactions as the public ledger.
In blockchain technology, the verification of each transaction in the public ledger relies on the consensus of the majority of the participants in the network.Bitocoin is intrinsically tied with blockchain technology with the enabling of anonymous transactions.
Blockchain technology has been applied to both financial and non-financial applications. With the rapid advancements in next-generation financial technology, blockchain technology has become popular due to the secure access of digital cash without the involvement of third parties.
By maintaining the public ledger for all electronic transactions, it prevents hacking in the blockchain software. In contrast to the centralized database, it ensures higher security of the data storage and management against attacks.
Computer Science and Engineering, Computer Science, Computer applications, Information Technology and Computer Networks
Computer Science and Engineering, Computer Science, Computer Networks and Information Technology