Summary A Blockchain is a chain of blocks that contain inform | 𝘾𝙔𝘽𝙀𝙍 𝙏𝘼𝙇𝙆 ™ 😷 𝗛𝗮𝗰𝗸𝗶𝗻𝗴 𝗧𝗼𝗼𝗹𝘀 . 𝙇𝙚𝙖𝙠𝙨 & 𝙈𝙤𝙧𝙚

Summary

A Blockchain is a chain of blocks that contain information

The blockchain is not Bitcoin, but it is the technology behind Bitcoin

Every block contains hash.

Each block has a hash of the previous block

Blockchain require Proof of Work before a new block is added

The blockchain database is disturbed amongst multiple peers and is not centralized.

Block chain technology is Resilience, Decentralize, Time reducing, reliable and its offers unalterable transitions

Three versions of Blockchain are Blockchain 1.0: Currency, Blockchain 2.0: Smart Contracts and Blockchain 3.0: DApps

The blockchain is Available in three different variants 1) Public 2) Private 3) Consortium

Higher cost, slower transactions, small ledger, the risk of error are some disadvantage of using this technology

Dubai- The Smart City, Incent Customer retention, and Blockchain for Humanitarian Aid are the real-life use cases of Blockchain

Bitcoin uses blockchain technology which is not governed by any central authority or banks