Category: Blockchain

Permissioned Model of Block chain

Permissioned blockchains are distributed ledgers that are not open to the public. Only users with permissions have access to it. On top of the permissioned blockchain, a control layer supervises the behaviour of the authorised players. Permissioned blockchains function in a completely different way than private and public blockchains. They’re designed to take advantage of […]

Understanding Crypto currency to Block chain

A cryptocurrency is a digital or virtual currency that is secured by cryptography, that allow for secure online payments. Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency wallet is required to use cryptocurrencies. To record transactions, most cryptocurrencies use blockchain technology. For example, Bitcoin and […]

Block in a Block chain

A block is a location in a blockchain where data is encrypted and stored. Long numbers are used to identify blocks, which contain encrypted transaction data from previous blocks as well as new transaction data. Before new blocks can be generated, the information contained in them must be verified by a network. Common components in […]

Smart Contracts

Smart contracts are just programmes that run when certain criteria are satisfied and are stored on a blockchain. Examples of Smart Contracts Elections for the government: Once the votes are stored in the blockchain, it will be extremely difficult to decrypt the voter address and change the vote, giving users more confidence in the system. […]

Bit coin

Bitcoin is a digital money that runs independently of any central authority or government monitoring. Use of bitcoin Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. How long does it take to generate 1 bitcoin ? The average time it takes to generate one Bitcoin […]

Public Ledgers in blockchain

A blockchain is a type of public ledger that consists of a chain of blocks on which transaction data are recorded following appropriate authentication and verification by network participants. Where is blockchain Public ledger stored ? A network of computers copies and spreads blockchain. Every computer on the network updates its blockchain to reflect the […]

Blockchain Introduction

Overview of Block chain Blockchain is a method of storing data that makes it difficult or impossible to manipulate, hack, or defraud the system. Goal of Blockchain The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. How is blockchain created? Mining is the process by which miners […]