Blockchain is undoubtedly an ingenious invention and is consistently evolving into something greater. It allows digital information to be distributed but not copied which is resulting into formation of new kind of information. It is originally devised for technologies like Digital currency, Bitcoin is now rooting for other tech fields as well.
How does it work?
Imagine a spreadsheet that us duplicates thousands if times amongst various interconnected working nodes. And now picture that this network is designed to regularly update this spreadsheet, nightmare! Isn’t it? But with blockchain, no duplication is there. It exists as a shared and consistently reconciled database. It has obvious benefits and isn’t stored in any single location which makes the records stored on it truly public and verifiable.
Blockchain Robustness and Durability
Imagine an internet with built-in robustness. The blockchain is quite similar as it stores the block of information which is identical, on the network. Moreover, once a record is placed on the network it stays there forever, regardless of the time. No disruption in the information is recorded since it’s invention back in the year 2008. We can declare blockchain robust and durable because:
- It can’t be controlled with a single entity.
- It has no single point of failure.
Blockchain transparency is something which makes it as sensational as it is. Imagine something placed in a hidden and isolated place and something placed between in public. Which has more chances to get stolen? Of course, the one placed in an isolated place! With the self-auditing ecosystem, it reconciles every transaction taking place on the network.
Due to the amazing features, it exhibits, more and more organizations are embracing this technology. Get your blockchain enabled services and wallets developed fro AI App works for the remarkable growth of your business!