{"id":9682,"date":"2019-01-30T11:30:50","date_gmt":"2019-01-30T07:30:50","guid":{"rendered":"https:\/\/100tech.co\/?p=9682"},"modified":"2023-10-13T00:07:53","modified_gmt":"2023-10-13T00:07:53","slug":"blockchain-concept","status":"publish","type":"post","link":"https:\/\/www.100tech.co\/?p=9682","title":{"rendered":"Blockchain concept"},"content":{"rendered":"\n<p>Blockchain is a shared, immutable ledger that facilitates the<br>process of recording transactions and tracking assets in a<br>business network Or A trusted distributed Ledger.<\/p>\n\n\n\n<p>We will explore about Blockchain concept and try to answer these questions, <br>Why Blockchain is important for business?<br>How you can apply the Blockchain in Business?<\/p>\n\n\n\n<p> Blockchain Concepts: <\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Shared Ledger<\/strong>\n<ul class=\"wp-block-list\">\n<li>It records all transactions.<\/li>\n\n\n\n<li>Shared between the members or participants involved in the business process.<\/li>\n\n\n\n<li>Tamper-proof, immutable.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Smart Contract<\/strong>\n<ul class=\"wp-block-list\">\n<li>Business rules implied by the contract embedded in the Blockchain and executed with the transaction.<\/li>\n\n\n\n<li>Encoded in Computer language (it&#8217;s not in plain English)<\/li>\n\n\n\n<li>Verifiable.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Privacy<\/strong>\n<ul class=\"wp-block-list\">\n<li>Every participant requires privacy for their shared information in the Ledger.<\/li>\n\n\n\n<li>Identity not linked to a transaction.<\/li>\n\n\n\n<li>It uses Cryptography techniques to encrypt the information with SHA-256.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Trust<\/strong>\n<ul class=\"wp-block-list\">\n<li>The ledger is a trusted source of information for all the transaction on a business network.<\/li>\n\n\n\n<li>Every member endorse the transaction.<\/li>\n\n\n\n<li>Audit trail to verify the assets.<\/li>\n\n\n\n<li>Transaction cannot be modified after processing.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p> <strong>Why Blockchain is important for business? <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li> It&#8217;s save time by efficient transaction processing. <\/li>\n\n\n\n<li>Removes the overhead cost for the intermediaries.  <\/li>\n\n\n\n<li>Reduce the risk of fraud and tempering.<\/li>\n\n\n\n<li>Increases the trust.<\/li>\n<\/ul>\n\n\n\n<p>We will continue in next Blockchain series articles&#8230;<br><\/p>\n\n\n\n<p>  <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><\/li>\n<\/ul>\n\n\n\n<p><br><\/p>\n\n\n\n<p> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain is a shared, immutable ledger that facilitates theprocess of recording transactions and tracking assets in abusiness network Or A trusted distributed Ledger. We will explore about Blockchain concept and try to answer these questions, Why Blockchain is important for business?How you can apply the Blockchain in Business? Blockchain Concepts: Why Blockchain is important for&hellip;<\/p>\n","protected":false},"author":1,"featured_media":80041,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[184,22],"tags":[],"class_list":["post-9682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-emerging-tech","category-tech"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blockchain concept - 100TECH - Tech Startups and News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.100tech.co\/?p=9682\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain concept - 100TECH - Tech Startups and News\" \/>\n<meta property=\"og:description\" content=\"Blockchain is a shared, immutable ledger that facilitates theprocess of recording transactions and tracking assets in abusiness network Or A trusted distributed Ledger. We will explore about Blockchain concept and try to answer these questions, Why Blockchain is important for business?How you can apply the Blockchain in Business? 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