Blockchain technology

BlockChain behind cryptocurrency like Bitcoin

TechBus

Blockchain technology is for transaction-security improvement, server-logic decentralization, Open Ledger, reduced operating costs and crypto-blocks implementation. This is already proven and implemented technology in realtime businesses like BitCoin, LiteCoin, Ethereum (cryptocurrency) etc where the block chain technology is implemented in full range and in Live.

In layman terms, any organization ( users in organization like bank) which triggers a huge number of transactions in general possesses a centralized server which handles all those transactions and all users ultimately will have to hit the central server for each and every transaction. In this business-scenario  there arises issues associated with security and speed while completing the transaction cycle. When ever there is a single point of enquiry ( central server) there is always a high risk and chances of security breach could come into front-row as an unmanageable risk-factor daemon. As now all the business-components are gradually getting converted into distributed…

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