BLOCKCHAIN

INTRODUCTION

• Blockchain is a decentralized ledger of all transcations across a peer-peer network
• A Technology that permits transactions to be gathered into blocks and recorded; cryptographically chain blocks in chronological order. and allows resulting ledger to be accessed by different servers
• The digitally recorded "BLOCKS" of data are stored in a liner chain

INTRODUCTION

• Each blocks in the chain contins data(eg.bitcoin transcation),is crytographically hashed and time stamped.
• Bitcoin stores all its transactions onto a public database called as blockchain

applications of blockchain

• Asset Management: Trade Processing and Settlement
• Insurance:Claims processing
• Payments: Cross-Border Payments
• Supply Chain Sensors
• Blockchain Healthcare
• Blockchain music

ADVANTAGES OF BLOCKCHAIN

• It is a decentralized System
• The blockchain is Transparent
• The blockchain is More Secure.
• It is faster and cost effective.
• It is immutable.
• It can record and historical and current records in one place.
• And its a peer-peer network

DISADVANTAGES OF BLOCKCHAIN

• Signature verifiction is computationally complex
• Large energy consumption
• Need more resouces
• High complexity
• Uncertain regulatory status
• Integration concerns
• Human Errors