In
2008 the revolutionary blockchain technology was created by few men behind the
online bitcoin cash currency sobriquet of Satoshi Nakamoto. Despite being
invented so early still it took two years to launch and now it is used by a
large number of mass who are connected with blockchain. Blockchain is famous
for its unique features that doesn’t let any third party access the records
within.
§ The blockchain
technology is consists of high transparency, constancy, utmost security and a
proper distributed digital ledger that is accessible by any user or stakeholder
within the smart contracts system. The smart contracts are the sets of coded
lines that allow the transactions only by some predefined terms and conditions
within the system.
§ The next-gen
technology is here with blockchain. A large number of people along with many
banks, companies, and entrepreneurs are now connected with this vast
technology. If we look back, we will get to see that most of the transferred
assets and their records had tampered highly. Many private records go revealed
due to the unnecessary involvement of third parties because the supply chain
was insecure.
§ As now we are
running with blockchain technology that sanctions the numerous exchanges of
different records and data. Blockchain understands the value of every
transferred data with the help of cryptocurrency that creates a secure
structure with all the records and data.
§ A secure supply
chain is the only thing you need to rely on. The blockchain technology is very
strict against the third party accesses. Due to the fine and smart mechanism of
this technology, all the data have tampered resistance. If any outsider
apart from the system tries to change or tamper with the records, every single
change of the updates will store in the system through the data will be still
unchanged. But the shareholders of the system can see the tried changes which
cannot be deleted. Hence every tamper takes permanent storage inside the system
and enhances the security. ..
