Crypto Academy Contest / S2W3 - Blockchain in our lives. by @hamza009
My Opinion on the change the Blockchain has brought to our everyday lives.
A blockchain is a shared data base. Pieces of data are stored and saved in the form of block's. And each node of network has an exact copy of the whole data.
Blockchain is a shared ledger that facilitates the procedure of recording transactions in business network. It helps the business network to proceed too rapidly without any calamity and makes the flow of business rapid.
Blockchain is a system in which data information is recorded in a very safe and accurate way that would make it difficult and even impossible to change,copy,hack or cheat any system of information or data.
Blockchain has gaining much popularity and is the one of the most talked about technologies and systems in business now a day's. It's popularity and advantages are increasing day by day in business term's. It provides a safe way of transferring and recording data in a very accurate and precise way.
Advantages in adoption of the Blockchain.
It's advantages are beyond to listify. Among them are its potential and ability to insert and drive major and essential changes in the industry. It has a vast ability of creating and introducing modren and new fundamental opportunities across industries.Among its many advantages blockchain ensures to speed up the data transactions. It also claims to reduce the cost of transactions by providing best opportunities to those without essay and better ways of business.
Decentralization
It is the most important advantage or benefit of blockchain. It helps us to do the pure and authentic transactions and also consume very less time for transactions.
Network distribution
Network distribution is also the most important point of blockchain. In blockchain no one owns the network it provides the network to all the users and allow all the users to copy the same information. It also allows us low costs for transactions from person to person in the blockchain.
The future of the blockchain, and how it has impacted the world.
Blockchain have a very bright and most prevailing feature. In the upcoming year's it will gain much more popularity in business systems. It could be used as basal technology for 30% globular costumer base.
It will make the value of business and make it to grow upto much more income. It has capability to raise the standard of business by drawing major improvements in this race.
Blockchain was an open source technology initially. But now it has become the major and the Most important component of financial systems supply chains and other business matters.
It would certainly creates a trust-worthy and accessible way of repository of data and information that is reachable the world over.
In short the blockchain has the ability that would create the third generation of internet. And in this way blockchain is the future of internet and business technology.
Yes, Blockchain is a Decentralized live technology. Because we don't need a third person to help us with our transactions. It's a very secure and transparent technology.
Your writing style is good but I would tell you to read the contest well before writing the post and then make the post. In the same way we will avoid many mistakes. I hope you have understood that I What I want to say. At the end I request you to visit post mine too.
Greetings
Hello friend,
Greetings from Nigeria.
You have give.man a short but straight to the point post. I love how you expressed yourself using your own words.
Blockchain makes use of smart contract which makes it very secure. To solve the issue of energy consumption, most have resulted into the use of proof of state, rather than the regular proof of work. In healthcare sector, with blockchain.. the authenticity of drugs is being verified. Kudos.
Hello @hamza009.
I guess this is your first attempt in the cryptoacademy. I will say the truth about your writeup, so in your next post, you would do better if you wish to improve.
Your work doesn't cover all the questions. You skipped a part of the first question and didn't do the last one at all. You don't stand a chance to score a mark of 5 here.
In this academy, you have to prove that you understand to a large extent the concept being discussed before you make an entry else you waste your time and resources.
Next time, try and study to be sure you understand the topic before you make your entry. Also, answer all the questions so you stand a chance to score a mark of 5 or above.
Well done for the try.
Anyways, best of luck.
T
In fact, I think blockchain technology has a lot of features. These can play a very important role in our human life. And so it is becoming very popular, in the future blockchain technology will be much more popular and blockchain technology will be used in different sectors.
All though I know the system can be hacked (which is highly difficult to do)
I will still bet on the blockchain anyday , I will definitely choose it over the centralised system cause the centralised is more pron and easily attacked.
Yes the less transaction fees can be classied as not even a fee. Cause is so small that when pay it per transaction you don’t even see it.
Yes this is possible as business who work or sell on the blockchain have the opportunity to be seen worldwide.