The blockchain is a brilliant invention that was created by a person or group of people known by the pseudonym, Satoshi Nakamoto Most of the people got introduced to blockchain technology by the bitcoin which was a revolutionizing currency but there are so many applications of blockchain and we haven’t even scratched the surface yet. From the new internet to a simple random number application everything can be made better with the blockchain.
So what is BlockChain Technology?
A very famous terminology that is used to describe the blockchain is “Google docs as blockchain” which means its functionality is so much similar to the Google docs like when you create a Google doc it can be shared among a number of people but none of them have a copy of it so it is distributed but none of them copied it. Similar to that the blockchain has blocks which are nothing but a collection of transactions which have to be verified every node in the network have those block but none of them can change or copy it and there are new transactions happening every second so there are new blocks created and each block is connected to the previous block like a chain by keeping some information of the previous block hence the name blockchain.
So how will Blockchain Technology help me?
This question is asked so many times that if they are not interested in bitcoin or any digital currency for that matter how does the blockchain technology benefits them and the main answer is security the blockchain is secure. as each transaction that has been done on the blockchain is verified at least 6 times for its authenticity and the part the people are most uninformed about is that the transaction can be of anything, not just money It could be of information goods, etc. the blockchain just verifies them and make sure that the parties that are doing the transactions are authentic also there is no irregularity in the transaction and because the network is distributed therefore the confirmations can be trusted.
The applications that use blockchain technology are called distributed apps or DAPPS for shorts these apps use the regular technology or languages for the front end but in the back-end, they use blockchain to store and verify the data. Today there are many new platforms and frameworks are available to create and deploy DAPPS like Etherium, BigChainDB, etc. even there is a new language called “solidity ” is created to design smart contracts that are a version of the classes we use in the other programming languages like java, python, etc. But truth be told the technology and the language are not fully mature though that doesn’t mean it is lagging. The blockchain community is pretty much sure that it is the future and in the next decade or so people would be using DAPPS for their day-to-day life applications or who knows maybe the new internet made using the blockchain could be just around the corner.
