Blockchain & Distributed Network –By Capitalinvestor

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Blockchain Distributed Network Technology
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Improvement in internet helps to connect every
point all over the world easily. Anyone can
easily do business, provides services by the help
of internet. As a result B2B business concept
present in our market.
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Any business in the world sticks by the means of
money only (best known as currencies). Each
country has its own currency to do any business.
But in case of online business trust faith base
of any business. SO people are trust any third
party like bank, govt. agencies others for
transactions.
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Third party like bank, Govt. agencies other are
taking lots of money as middle men. Nearly equal
to 10-15 of all transactions made by all over
the world. And hence all the online transactions
are made over internet , some people regularly
monitor its , helps to make your transaction
successful.
And most of the cases, its take time(2-3 days) to
confirm the transactions. And hence we depend on
a particular system, if it fails or hacked by any
unauthorized person our money get lost.
Ultimately we are deepens on a cartelized system,
if it fails all work stops. So to overcome all
the issues scientist comes with a new technology
call as Blockchain
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BLOCKCHAIN DISTRIBUTED NETWORK
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The Blockchain distributed transaction network
concept introduced in 2008 by Satoshi
Nakamoto. BY using this modern distributed
network we can easily transact with each other
without any trusted third party. By using this we
can be exchange our any assets like tangible,
physical or digital assets.
Certificate
Car
House
Bond
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In Blockchain network each block (or node) is
connect with another in a distributed manner. So
that no central node concept is not available. In
order to update the transaction there some
special node named as Miner are present in the
network. To update each transaction every 10min.
And a open ledger present in each node that
reflect the whole network transaction.
Miner
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When a transaction start between two parties
after completion it reflects over the network .
And each node updates their open ledger, so that
each and every one can see.
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Each node in this network update their
transaction using crypto technology called as
Hash function. In case of any transaction the
sender node and receiver node compare their hash
function code, if it matches then only
transaction is complete otherwise not. And each
node n the network must check the same hash and
updates their ledger automatically.
HACKER In case any unauthorised enter to the
network and made any changes, must have to change
in all ledger in the network, its quite
impossible. So its a safe mode of transaction.
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Bitcoin
All the transaction made in the blockchain
network made is possible by using crypto
currency. Bitcoin is crypto currency used for the
same in the blockchain network. Its use in
blockchain network for any transaction. Instead
of using card payment or net banking we can use
bitcoin for payment any online transaction. As we
know its faster safe.
Continue..
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