Blockchain Tutorial For Beginners

Blockchain is a permanent record of information or it is a advanced cryptography with computer science that ensures no one can change the records or information of blockchain without anyone knowing. This allows people to trust the validity of transactions.

Problems overcomed by Blockchain

Before blockchain comes into the picture, there was need of middle-man involved to execute transactions. Once Blockchain was launched, there is no need of third party to handle accounts and transactions:

with Blockchain, Transactions can be faster and cheaper

Plus, your personal data becomes more private

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How Blockchain Works?

A blockchain is a chain of blocks that contains information or data. Each and every block consist timestamp of the previous block. Although the design is simple, no one can tamper the data from Blockchain.

Blockchain technology can record the transactions of two parties securely and efficiently. Once the data is recorded in the Blockchain, it cannot be updated. This is the main reason why blockchain technology is considered as more secure and not susceptible to hacking.

Blockchain Technology: Future

Blockchain technology help to completely remove the middle-men as well as third parties that handle the transactions. This may result in lost jobs for many people in the future but it will definitely make the transactions transparent.

The entertainment industry will also change with blockchain technology implementation in it for ex: In future, people could directly pay amount to authors and artists without any need of third party firm or organizers handling them.

By implementing blockchain, international payments will also become cheaper, fast, and secure. Blockchain technology can automatically make it sure that money changes hands fairly, and as it removes the middle-person also, transaction costs become cheaper.

KYC verification is a tedious process to do, as we need to do it a number of times for different parties such as different banks and digital asset providers. If KYC done on the blockchain, single person has to do KYC only once and can be assured that whenever any identity proof or KYC is needed, it can be ready to show on Blockchain.

Blockchain technology is already popular and in near future it is going to become more popular. Additionally it will bring number of career opportunities. So, this is the right time to learn blockchain technology and secure your future. NearLearn offers Online Blockchain Training at affordable cost with placement facility. For more, call: +91-80-41-700110