Blockchain, as the name depicts, is a chain of blocks in which the data is stored and works similarly to the databases. Every next block in the blockchain is connected to the previous block via a cryptographic hash value which tells the block about the previous block.
Blockchain is the backbone of all digital currencies, all the transactions made with these digital currencies are saved in the blocks of the blockchain. Basically, a stream of different nodes constitutes a network of blockchain, and each node comprises a ledger in it. When a transaction occurs, the ledger of all the nodes gets updated. Doesn’t matter which nodes are doing the transactions, the ledger of all the nodes in the network gets updated.
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The word ‘Hybrid’ reflects upon the literal meaning ‘combination of two things’, and now referring to the next part of the title, smart contracts, dates back to ‘Third Blockchain Generation’, commonly known as Blockchain 3.0. This generation of blockchain usually wraps itself around the evolution of Ethereum and Smart Contracts. After a glimpse into the...
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The escalating cyber attacks have been adding cost to the companies and amidst the pandemic, cyber attack quagmire stormed the businesses. Approximately $4.2 billion was lost as a result of cybercrime in 2020, as per the FBI's annual Internet Crime Report. Fraud, extortion, and non-payment scams were three of the top types of cybercrimes. The...
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Transparency is something everyone craves when it comes to the land registry; the fraudulent cases regime is slowly getting to the dumps. It is because of the implementation of blockchain in land administration. The dissemination of the records across a distributed decentralized ledger is what blockchain owes to land administration. Let’s have a quick insight...
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You might think that the internet has changed your life, but that isn't true. Blockchain (Blockchain 4.0- The Industry Revolution) is about to revolutionize everything all over again.The monarch of Blockchain and the IoT has already overhauled the world with a never-ending impact. We can’t just get over it because automation and digitalization have engulfed...
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Marketing has been stuck in our heads since the inception of Google, well everyone knows how Google has redefined the perspectives and parameters of ‘Traditional Marketing’. Marketing is a shackle that wraps around the customers’ minds and you can’t just get rid of it. Let’s just brag about marketing a bit with a famous quote...
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We have been talking about blockchain lately, back in 2008 the blockchain revolution was a complete technology breakthrough in the industries. From finance to the e-commerce industry, everything was shaken to the core with blockchain technology. When someone says a Distributed Ledger System, without thinking of a second thought people usually think about blockchain as...
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Renaissance of Technology and Money Since the inception of blockchain, the world has revolutionized at a fast pace; it is an invisible yet sophisticated technology. Ten years later, blockchain technology is still dabbling the world with its over-hauling approach. This mysterious technology deals with cryptocurrencies and transactions without involving any kind of intermediaries and banks.Since...
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Blockchain in Supply Chain | Use Cases and Features Before starting with today's discussion, here’s a question for you guys, can you rely on the supply chain independently? Most people come with the answer “No.” If you ask us the same question, our answer would be the same without flashing a second thought.The supply chain...
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A Guide For Beginners Ingenious Blockchain Solution Technology has now overhauled the world with its ever-lasting impact, blockchain-based networks like decentralized apps (DApps), and distributed ledgers are now spading their way to the more secure and fewer data breaches. Before diving into our discussion, let’s have our hands on the simple fact about blockchain technology,...
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Navigating through the internet world safely has become a fundamental question for everyone over the last few years. Unfortunately, witnessing how things are threatened by potential data risk, online things are getting vulnerable only to get worse. But hey! Blockchain is here to rescue you! No one can deny how blockchain is already on the...
