Blockchain is the greatest invention of our time
It is obvious that blockchain is the greatest invention of our time. Before get into this let me share you a definition of blockchain straight from wikipedia
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data - wikipedia
We should not consider blockchain is only for Bitcoin or digital currencies. It can do lot more things than just the function of transaction or digitial currencies. It can be used for
- digital currency creation and transaction
- creating smart contract
- Creating Decentralized Application
- Creating Decentralized social media like Steemit
Primarily, Blockchain technology is popularized by Bitcoin. Now, It is used to create more popular platform like Ethereum. Everyday new coin or ICO are coming to the market.
A blockchain is just a special kind of database where every transaction are recorded. It is very difficult to hack or change the blockchain.
Future of Blockchain
As Blockchain is a new technology, It is difficult to predict the future of this technology. Till now, Powerful governments are skeptical about blockchain technology or the product of blockchain technology.
In near future, Government can adopt blockchain to take advantage of it. Other than government, It will be used widely. 2018 is an important year to watch the progress of blockchain. 2018 will define whether it will be accepted widely or not.
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Great explanation of BLOCKCHAIN. Thank you for sharing it.
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