What is Blockchain Technology? - A Simple Guide For Beginners

Posted by Tim Josh on October 16th, 2019

Have you ever heard about the term "Blockchain"? If says No, then check out this entire blog which we have written about blockchain technology. Here, we have written a complete guide about blockchain technology and its properties for beginners. Read this article and know more about blockchain. Lets get into the topic.

What is Blockchain Technology:

Blockchain was invented by a person "Satoshi Nakamoto" in 2008 to perform the public transaction ledger of the cryptocurrency coin (first digital currency). The identification of a person is unknown. The Blockchain, by the word which says about what it is. Generally, Blockchain is a group of records that are stored in each block which are more secured and linked with each other using cryptography. Each block has a cryptographic hash of the previous block, a timestamp, and transaction data. So, what makes it more Special?. Blockchain is an open distributed ledger that can store each transactional record occurring between two persons in a verified and effective manner. Using Blockchain technology, you can perform any kind of transaction without using centralized servers. And also the information which are open to everyone and we can see it.

Why Blockchain Technology?

The three important properties of Blockchain Technology are mentioned below;

• Decentralization.
  Transparency.
  Immutability.

Who Uses Blockchain Technology?

Nowadays, many industries (or) individual persons utilize blockchain technology to make their own transactions in a well-secured manner without the need for any trusted authority (or) central servers. The blockchain technology helped many enterprise solutions and startups to increase business growth into the next level in their respective fields. Are you feeling excited to know about blockchain technology more? Check here.

Looking to hire a blockchain developers for startups?

Osiz Technologies is here for you. We are the leading blockchain development company in India, providing end-to-end blockchain development services across the globe. We have a 10+ yrs industry-proven experience and a team of blockchain developers who is good at developing highly secured blockchain applications for your business and also have immense knowledge about technology. We have got an opportunity to showcase our talents with you that what we can do with this latest technology.