{"id":151205,"date":"2021-12-06T20:40:05","date_gmt":"2021-12-06T15:10:05","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=151205"},"modified":"2021-12-06T20:40:05","modified_gmt":"2021-12-06T15:10:05","slug":"on-blockchain-the-next-big-tech-revolution","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/on-blockchain-the-next-big-tech-revolution\/","title":{"rendered":"On Blockchain: The next big tech revolution"},"content":{"rendered":"\n<p><strong>News: <\/strong>Blockchain technology will be the next big tech revolution.<\/p>\n<h5><strong>What is blockchain technology?<\/strong><\/h5>\n<p>A blockchain is a digital ledger that allows parties to transact without a central authority as a trusted intermediary.<\/p>\n<p><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/forumias.com\/blog\/blockchain-technology-3\/\">Blockchain<\/a> <\/strong><\/span>is not a new technology. Rather, it is an innovative way of using existing technologies.<\/p>\n<p>The technologies underpinning blockchain are asymmetric key encryption, hash values, Merkle trees, and peer-to-peer networks.<\/p>\n<h5><strong>How the blockchain technology works?<\/strong><\/h5>\n<p>A blockchain is a digital ledger, in this ledger, transactions are grouped together in blocks, which are <strong>cryptographically chained<\/strong> together in a way that is tamper-proof and creates a mathematically indisputable history.<\/p>\n<p>The development and maintenance of blockchain are open, distributed, and shared. A team of volunteers around the world maintains the core software for blockchain<\/p>\n<h5><strong>Why the blockchain technology is so promising?<\/strong><\/h5>\n<p><strong>\u201cSmart Contracts\u201d<\/strong> is the revolution that blockchain will bring. It will permit trusted transactions and agreements to be carried out among any two parties without the need for a central authority, legal system, or external enforcement mechanism<strong>. <\/strong><\/p>\n<p>It has the following benefits,<\/p>\n<p><strong>&#8211; <\/strong>it makes transaction very quick.<\/p>\n<p><strong>For more benefits and advantages of Blockchain<\/strong>: Read <span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/forumias.com\/blog\/blockchain-technology-3\/\">here<\/a><\/strong><\/span><\/p>\n<h5><strong>Why blockchain and its related technologies are looked at with deep suspicion?<\/strong><\/h5>\n<p><em><strong>Firstly, <\/strong><\/em>the use of algorithms to establish the validity of the transaction is viewed with suspicion.<\/p>\n<p><em><strong>Secondly,<\/strong> <\/em>Part of the reason why blockchain and its related technologies are looked at with deep suspicion is the story about its origins. The development of \u2018Bitcoins\/ digital cryptocurrency\u2019 had contributed to the mystery of blockchain.<\/p>\n<p><strong>Source:<\/strong> This post is based on the article \u201c<strong>The next big tech revolution<\/strong>\u201d published in Business Standard on <strong>6<sup>th<\/sup> Dec<\/strong> <strong>2021<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News: Blockchain technology will be the next big tech revolution. What is blockchain technology? A blockchain is a digital ledger that allows parties to transact without a central authority as a trusted intermediary. Blockchain is not a new technology. Rather, it is an innovative way of using existing technologies. The technologies underpinning blockchain are asymmetric&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/on-blockchain-the-next-big-tech-revolution\/\">Continue reading <span class=\"screen-reader-text\">On Blockchain: The next big tech revolution<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,216],"class_list":["post-151205","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700471110},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/151205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=151205"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/151205\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=151205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=151205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=151205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}