What is Blockchain?
Blockchain is a shared, immutable ledger that helps the process of recording transactions and tracking assets in a enterprise network. An asset may be tangible (a house, vehicle, cash, land) or intangible (intellectual belongings, patents, copyrights, branding). Virtually anything of cost may be tracked and traded on a blockchain network, decreasing danger and slicing costs for all concerned.
Why blockchain is essential: Business runs on statistics. The faster it’s acquired and the extra accurate it is, the higher. Blockchain is ideal for handing over that facts as it affords instant, shared and absolutely transparent information saved on an immutable ledger that can be accessed best by way of permissioned network participants. A blockchain community can music orders, bills, bills, manufacturing and much extra. And due to the fact members proportion a unmarried view of the truth, you can see all info of a transaction give up to quit, supplying you with more self assurance, in addition to new efficiencies and opportunities.
Features of Blockchain
- Smart Contracts
- Immutable Records
- Distributed Ledger Technology
- More Security
- More Trust
- More Efficiencies
- Public Blockchain Networks
- Private Blockchain Networks
- Permissioned Blockchain Networks
- Consortium Blockchain Networks
