Blockchain is that this technology is a “Database System“. The meaning of Blockchain: This system consists of blocks. Encrypted transaction tracking is performed to store data consisting of these blocks attached to each other. Thus, it eliminates the possibilities of hacking, changing, manipulating and involuntarily interfering with the system with Blockchain. So, it provides secure management of information.
Another important thing about the system is that all computers participating in this blockchain distribute their data securely. For each transaction, the blockchain performs transaction identity verification. The user grants this authority with his digital signature. At this point, Blockchain provides very high security against all cyber attacks. For this reason, the cryptocurrency world attaches importance to Blockchain technology.
I will explain the system in a simple way so that you can understand it in detail; Let’s say you want to transfer money to friends, colleagues, or family. For this, you will perform this process using the internet, banking site or application. In doing so, you will use the account number of the person you want to send the money to. When this process is finished, the bank updates all account records.
Sounds simple. However, this process can be easily interfered with by malicious people. The Blockchain system has been developed due to other security vulnerabilities that we encounter here. At the same time, Blochhain is transparent and offers a system that can be reviewed by everyone. In fact, Blockchain experts have the potential to create employment demand in the future.
Blockchain also ensures that data and transaction records are kept in security. Usually, such information is processed within companies or passed on through third parties such as partners, brokers, bankers, lawyers, etc. In this case, it turns time, all costs or all of them into a burden.
Blockchain easily prevents the long process that will take place at this stage and makes it easier for transactions to proceed more securely and faster, making a great contribution to saving both time and money. Blockchain is made up of blocks and consists primarily of digital pieces of information that are divided into three parts. I list these sections for you to get more detailed information:
- It stores classic transaction information such as date, time, and transaction amount.
- The name under which the transaction was made is also recorded. However, in this case, the name is a digital signature that does not contain any identifying information.
- Each block is presented with a unique code called a hash that sets it apart.
The Future of Blockchain Technology
Blockchain, one of the most popular developments of recent times, has started to be used in various fields. Various organizations are interested in this new technology and the innovations that Blockchain will offer us in the future. Another thing you should pay attention to is that Blockchain technology has started to introduce itself to very large masses around the world.
It seems that the amazing Blockchain technology is destined to become an integral part of many companies and the digital world, and it is rapidly moving towards this. Now let’s examine in which areas Blockchain technology will gain a more solid place in the future.
- I am very confident that Blockchain will have a very serious future in the financial sector. Because Blockchain technology has shown a successful example of consistency in the tracking of financial assets. Many financial structures have made the decision to invest in Blockchain after realizing its potential and tested beneficial effects. This new technology, which offers unprecedented transparency, can eliminate the flow of black money to a large extent.
- Blockchain has a good future in cyber security. Because for some strong reasons, the future scope of blockchain technology will largely be shaped in the field of cybersecurity. Blockchain does a very good job of providing highly secure and verified data flow. Inadequate encryption methods rely on the upcoming Blockchain technology to eliminate vulnerabilities such as inspecting unauthorized data flow.
- In the field of cloud storage, Blockchain also winks at the future. Current systems can carry a high risk of data piracy, lost data or human error. Cloud storages, which are constantly at risk, can be made safer and more robust against hacking and being compromised by malicious people with Blockchain technology, just like its application in cybersecurity.
- I wouldn’t be wrong if I say that Blockchain has a very solid future in the field of digital advertising. There are various negativities due to the challenges faced by digital advertising, including bot traffic, lack of transparency, domain name fraud, and inefficient payment methods. Thanks to its reliability and transparency, it has been learned by experience that Blockchain solves such negativities in the supply chain. I am quite confident that all advertising-related processes can be made more efficient by using this technology.
- It is very possible that Blockchain will do important work in all supply chains. The use of blockchain can reduce timing errors, delays, and human errors. Blockchain can monitor employment, all costs, and layoffs at every stage of the supply chain. Through this traceability, Blockchain can ensure fair trade.
Blockchain Investment Opportunities
As a result of a statistical study, it is seen that banks spent $1.7 billion on Blockchain in 2017. Large companies make serious investments to seize these opportunities. I will share with you the five best platforms for Blockchain project investment:
As we all know, Amazon has the largest e-commerce platform in the world. In addition, Amazon has established Amazon Web Services, a leading cloud infrastructure service. The AWS platform also offers Amazon Managed Blockchain, which allows customers to build and manage their own Blockchain networks. Amazon is committed to incorporating blockchain technology into its massive e-commerce business. Blockchain currently accounts for a small percentage of Amazon’s revenue, but as the technology improves, there are possibilities for much more. A giant company like Amazon offers really good investment opportunities in this sense.
Mastercard, the payment processing giant that almost all of us have in our wallets. It has shown tremendous growth for several years, with debit and credit card volumes increasing towards a cashless economy. Blockchain technology has huge potential in the cashless payment space, especially when it comes to cross-border money transfers, which have historically been slow and costly. Mastercard has announced partnerships with blockchain technology companies. This means that it offers serious investment opportunities for investors.
Located on the cryptocurrency exchange Binance, it’s one of the most popular platforms to launch tokens. The platform offers entrepreneurs a Blockchain platform to successfully raise funds and then be listed on the stock exchange.
It is a decentralized project that helps promising projects reach their full potential by leveraging the investment power and potential of the community. This project offers access to investment opportunities previously only available to wealthy investors and venture capital funds, and aims to open up a closed ecosystem of early-stage crypto project investments to everyone. In other words, it offers a serious investment opportunity for you.
It is a decentralized platform that allows blockchain teams and different companies to fund and launch their projects. They use it to create multi-chain token pools, raise funds, and expand their communities. This means that it can have a positive impact on its.
See you in the next post,