What is blockchain technology
Hi,
People are taking about Blockchain these days and there is many jobs in the IT field. So, I am wondering what is this?
What is blockchain technology?
Thanks
View Answers
July 8, 2018 at 8:01 AM
Hi,
Blockchain is a technology which uses cryptography and other IT technologies to store data in the form of chain where each data is stored as one block. Chain of data is know as Blockchain and one data chain is known as Ledger.
This technology was first discussed by by a group of researchers in 1991. They used this technology to securely store timestamp digital documents in order to ensure it is not tempered.
Satoshi Nakamoto in 2008 to create a digital cryptocurrency Bitcoin using this concept. After creation of Bitcoin its popularity increased.
Now a days Blockchain technology is used in various fields including Banking, Fincance, Agriculture, IoT and many other fields.
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