Hello everybody to my this post. Hopefully all of you will be good and enjoying your time. This is my submission of homework task week 6 for dear sir @gbenga from Nigeria. Thank you dear sir for your lecture of week 6 . I have read whole of the post and I have understood all the things clearly which I did not know before.So lets move towards our today's lecture.

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The Security Benefits of Applying Blockchain:

If we listen the word security, the first concept and the first thing which comes in our mind is the privacy, safety , or the importance of something. In our dailylife everyone wants to maintain his security and privacy about his life things especially when there comes the question of their bussiness espacially there bussiness details, documants, savings, amounts and all the other aspect then one want to manage his best security to make all these things safe and secure.

Same is the case in the cryptocurriencies and the blockchain word. Everyone wants to make himself safe and even more safer to protect himself from any type of spam or fraud. There are thousands of people along with thousands of the methods to steal or hack someone's privacy at the network. So, the security of his blockchain .
There are a number of industries and number of companies which want to make their sysytem more secure and safe . They wanted to make transactions, transfers, and the transfer of documents from the industrial and the customers end. So Blockchain is the best and the most secure way to do all the activities safely and privately. All the blockchains tries to make both the ends safe and secure. The companies and the industries are trying to keep good eye on the blockchain and the cryptocurriencies to ensure there security. There are number of methods in a blockchain to keep both the ends safe. Some of them include.

• Hash Function/ Algorithm
• Cryptography
• Digital Signature

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There are number of industries and the digital companies which used to send and recieve data which is actually raw data which contains a long and wide series of numbers,letters and other elements. A very large amount if raw data is when tranferred and recieved it occupies a lot of memory or voulme. In order to prevent the loss of any portion of the precious data blockchain offers a hashing system in which a very great amount of data is converted and transferred in the form of hash function which is a very short form. The digital signature also plays a very great role to secure the both ends. The private and the public keys of the reciever and the transferer are also needed to track the transactions and tranfers.

Impact of cryptocurrency on the industry:

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In order to maintain the security and safety of the industries the blockchain offers a decentralized and the fully secured system. The use of cryptocurrency in an industry impact the industry positively and increase the worth of the ndustry. The use of cryptocurrency and the blockchain in an industry or an organization .

People can use the cryptocurriencies in purchasing different items online without the digital currency. Like if we discuss about the today's situation of the whole world there is no country which get rid of the attack of the Corona Virus. In this situation cryptocurriencies are best ways to make secure and easy transactions.

There are thousands of blockchains which offer thousands of cryptocurriencies some of the most popular and most trending cryptocurrencies are Bitcoin, Litecoin, Entherium(Enther) and many more which can be transacted easily at any time and utilized for number of purposes.The effect of cryptocurrency on some of the industries is as follow:

Sports Industry:

The utilization of cryptocurrienies in the sports field is also The future of cryptocurrencies in the sports industry is still a matter of debate. It is, in fact, too early to interpret its effect and form a conclusion on the successful integration. However, with the aid of main players in the sports industry, it might be possible to integrate the Blockchain technology in a way that is profitable for all. But, there is a great potential that cryptocurrency could change the sports industry entirely.

Paying for items with virtual or digital curriencies is the most easy and the best way to make transactions easily and quickly.In this way the charges may also evolve lower costs and expenses.

So, that's all about today's homework. Hopefully all of you will like my this post .

Mentioning dear sir @gbenga here to review my home task.

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