Posts

Proof Of Work In Blockchain

Image
Proof Of Work :::: Proof of Work(PoW) is the original consensus algorithm in a blockchain network. The algorithm is used to confirm the transaction and creates a new block to the chain. In this algorithm, minors (a group of people) compete against each other to complete the transaction on the network

Decentralised Technology

Image
Decentralised Meaning :- With the digital ledger that is blockchain, transactions can occur quickly and securely anywhere in the world. I can complete a transaction with someone in Portugal. You can complete the transaction with someone in the Antarctic. Because the blockchain can’t be tampered with, and because it’s a direct A to B relationship to make the transaction, we gain a trust we wouldn’t otherwise have without some kind of third-party or central authority verifying that trust. In other words, we don’t need a broker or notary to make sure our transaction goes as intended. Blockchain technology ensures that it will because “trust” is built-in.

Blockchain Technology

Image
Blockchain is the technology that underlies cryptocurrency such as Bitcoin and Ethereum. One of the most interesting things about blockchain is that it's decentralized, meaning there is no single “owner” of the platform. Instead, there are a lot of different parties holding portions of the data and providing services for transactions. For example, a Bitcoin transaction occurs between two users who each have an address to which they are sending funds. Thanks For Reading My Blog ...... Regards Mohit Patil.....