The Blockchain Network || Working & Application || @abdullahw2
Hello friends! Well come to my post. How are you all? I hope that you will be doing well. Today I'm going to share my knowledge about the Blockchain Network with all of you in this Tron Fan Club. So let's start without any more delay of time.
As from its name the Blockchain network is digital decentralized technology which holds the records and transactions data of that network. Basically the Blockchain network is consists of numerous digital Blocks which are connected to each through chain of network. Actually the First block of a Blockchain network is called Genesis Block which is considered as the basis of that Blockchain network.
This is because the Genesis Block holds the basic information, data and verifications process of the network then the all other blocks are connected with it. The Blockchain network use the crypto graphic algorithms to verify the transactions within the network which make the network more secure and reliable. The Blockchain networks has several applications in the digital world and crypto market.
Basically the Blockchain networks are very famous due to their transparency, security and regulation authority. It provides a secure ledger system with the help of blocks because all the transactions details and data are stored in these blocks. The Blockchain network works on the principles of decentralization technology which means that no any single person is controlling the whole system.
Thus the Blockchain networks are consists of nodes and these nodes are responsible for doing and recording transactions within the network. Then all these transactions data are recorded in the blocks of a Blockchain network and each block has a connection with the previously existing blocks. When creating a connection with one block to another the Blockchain network use the proof of stake mechanism to determine the nodes.
Then he nodes of the network verifies the transactions data and then store their details within a specific block and also create a link with the other blocks. Thus due to all these unique qualities the Blockchain networks has several applications.
The Blockchain network has numerous advantages and applications in the digital world and in the world of crypto currencies. Lets take a look at them.
The Major use of Blockchain network is in digital crypto currencies like Bitcoin. Yes that kind a digital currencies works on the principles of decentralization.
The Blockchain network can also be used in electronic voting system and can provide us a Fair results of elections.
The Blockchain network is also use in video games due to this the players can purchase the items of the games.
Friends besides it the Blockchain network has numerous applications because it is a very vast digital system which covers the various aspects of life. You can our Steemit platform is also based on a Blockchain network and you are all well aware of its security, usage and extraordinary features. So friends that was my little knowledge about the Blockchain network and I hope that you will like it. Now it is time to say goodbye to everyone.
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Welcome here. Well written. Keep on sharing unique and quality content. Please try to increase your engagement and activity in the community to get better support from the community. Thanks.
Thank you so much sir for your kind response. Surely I will remember that words 😊
Thanks
You are most welcome.
The Blockchain Network is a great content. there are are lot of information that everyone needs to know.
Thank you so much brother for your precious comment ☺️
It was very good to know about Working & Application. He shared a very important matter.
Thank you so much for commenting 😀