Blockchain

What Is Blockchain?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

Why Do We Need Blockchain?

Blockchain is a better, safer way to record activity and keep data fresh, while maintaining a record of its history. The data can't be corrupted by anyone or accidentally deleted.

Is Blockchain Safe?

Blockchain technology is secure as it is decentralized and distributed. There is no single point of failure, which makes it much harder to corrupt. Hacking into one part of the system cannot affect other parts.

Are Blockchain And Bitcoin The Same?

No, Blockchain and Bitcoin are different. Blockchain is the technology that enables the existence of cryptocurrency . Bitcoin is the one for which blockchain technology was invented.

Types Of Blockchain

Public Blockchains

Public blockchains are permission less in nature, allow anyone to join, and are completely decentralized.

Private Blockchains

Private Blockchains are permissioned blockchains controlled by a single organization.

Consortium Blockchains

Consortium blockchains are permissioned blockchains governed by a group of organizations, rather than one entity, as in the case of the private blockchain.

Hybrid blockchains

Hybrid blockchains are blockchains that are controlled by a single organization, but with a level of oversight performed by the public blockchain.

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