Block Chain Technology
Andhra Pradesh Government will secure digital transactions from Blockchain, know what is this technology
Among the questions arising on the security of digital transactions, the Andhra Pradesh government has started the use of new blockchain technology in two government departments. It has been implemented as a pilot project to check how efficient it is to keep the long-dated database of digital records safe. This technology, launched by Bitcoin Technology in 2008-09, is extremely complex and costly. It is considered difficult to hack, and it never takes place] details of all digital transactions. To prevent cyber crime and hacking, blockchain technology is known as a foolproof system. State government
Blockchain is a technology that has been programmed to record Financial Transaction.
This is a digital system, in which an Internet technology has the underlying strength.
Which can store blocks of identical information on its network.
Block-chain has the ability to distribute digital information, meaning that it acts like a distributed network. Not all records in the database are stored in a computer, but distributed in 1000 computers or millions of computers. Each computer in the block chain can describe the entire history of each record. This database is encrypted and entered in a confidential manner.
Blockchain is also a fault tolerant, i.e. in this system, if a
computer gets damaged then this system keeps working. If any new
agreement or record is required to be recorded in it, then it requires
the approval of many partners (computers).
Hacking - Hacking
It is very difficult to hack, because hackers will have to hack many
thousands of computers simultaneously to hack the data base. This is
why block-chain technology is a safe and simple technology.
The blockchain first experiment was in 2008. When a digital currency
called Bitcoin was invented. The use of the block chain can not be
used only for bitcoins, but can also be done where there is a need for
a middleman for trust, guarantee.
If a poor man wants a government salary, then the government can send
that salary through Block Chain to his mobile. If the houses, crops
etc. are destroyed in the event of disaster and the government wants
to help them, then the block can send the government aid amount
directly to their mobile, this will reduce the corruption.
Blockchain can also be used in education, students can be given
blockchain-built degree instead of paper degree. This can solve the
problem of forged degree.
In Blockchain Technology, money is transferred directly between the
buyer and the seller who does not need any other person in this
transaction. This technique is the safest, because information is
collected through many computers and it is transferred through
confidential codes.
It is used in technical transactions to save large data from one
computer to another while hacking, because it has to hack many system
computers together for hack connectors. Therefore hacking in it is
very difficult.
Block Chain is a distributed system with the help of which money
transactions are made more transparent and secured. Normally, block
chain technology is used in the acquisition of Bitcoin.
Data is stored in a confidential manner by the millions of computers
in Block Chain Technology, which makes the data very secure and can be
easily transmitted and transferred.