Blockchain Technology: how it works and its real life uses
Blockchain Technology First of all, before going in the details of blockchain let’s understand what is the need of it, what is the issue with current system. Suppose you runs a medical shop and you store down all the details of medicines, suppliers, customer in a database. So you might ask yes, so what’s the problem database is enough to store our records. So basically there are 2 problems. Centralized access : - Not everyone has the authority to access that database. If admin’s mood suddenly got changed maybe because he gets into the fight with his girlfriend, he can tamper the data present in database and we will not even come to know, if some changes has been done. So, as data are like new oil/new gold we need to protect our information and to solve these issues as there is solution to every problem, we need a system that has decentralized access, it’s next to impossible to change contents present and that technology is Block chain. An Introduction ...