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Block Chain Technology

Blockchain technology is a decentralized computation and information sharing platform that enables multiple authoritiesu2019 domains who doesnu2019t trust each other to coordinate, collaborate and cooperate in a rational decision-making process.<br>

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Block Chain Technology

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  1. Welcome to IQ Online Training Providing World Class IT, Software Online Training

  2. Block Chain Technology What is Block Chain Technology? | Architecture & Major Aspects | Block Chain 2.0

  3. What is Block chain Technology? Block chain technology is a decentralized computation and information sharing platform that enables multiple authorities’ domains who doesn’t trust each other to coordinate, collaborate and cooperate in a rational decision-making process.

  4. Formal Definition of a Block Chain? Block chain is a decentralized, permission less open distributed ledger that can record all the transactions between two clients efficiently in a permanent way. What is Block chain used for? In initial stages, Block chain is mainly used for Bit coin and other crypto currencies now its applications are widely spreader to several industries including Health, Real Estate, and Finance, etc

  5. Block chain major aspects are:- 1. Accessible to all 2. No single party to control 3. Fast and scalable 4. Maintains persistent information 5. Verifiable.

  6. Centralized Vs Decentralized VS Distributed? Centralized:- Decentralized:- Distributed:- Complete dependence on a single point is not a safe. It refers to multiple points of coordination. All nodes are interlinked with each other nodes.

  7. Does Block Chain work like a Public Ledger? • A Block chain is a form of public ledger which is a series of blocks that can record transactional details after suitable authentication and verification by the network participants. • We need to ensure a different number of aspects • 1. Protocols for commitment:- • Every valid transaction that is committed from the client must be recorded and included in the block chain within a finite time. • 2. Consensus:- • Ensure that all local copies must be maintained consistent and well updated. • 3. Security:- • The data needs to be tamperproof. • 4. Privacy and Authenticity:- • The privacy and authenticity of the data must be ensured that belong to the various clients.

  8. What Is Bit Coin? Bit coin is a completely decentralized, peer to peer, a permission less, Crypto currency platform that came into existence in 2009. 1. Completely decentralized 2. peer to peer:- 3. Permission less:- No central party required for ordering or recording anything. Software that runs on machines of all stakeholders to form the system No identity, no need to sign up anywhere to use

  9. Block Chain 2.0? As Block chain captured the interests of users, mainstream companies are trying to use the central block chain idea and build alternative systems around it for use in industry, manufacturing, supply chain, finance, and IOT, etc. The movement this started termed Block Chain 2.0. How does Block Chain work for Bit coin? Transaction:- Tina uses a bit coin to buy flowers at Royse’s flowers shop using her private key to transfer ownership of the currency,

  10. Block:- Mining Network:- Here, miners use trail-and-error computations to solve a puzzle created by combining data based on recent transactions. The transaction is sent through the bit coin network to the miners with powerful computers.

  11. Verification:- The first one who finds the unique number that unlocks the puzzle earns the right to bundle the transactions after verifying he gets rewarded with a newly minted bit coin. But only after other miners confirm that the blocks transactions don’t contain any attempts to spend the same funds twice.

  12. The Block Chain:- Block chain acts as a public ledger showing all transactions. Each block has a cryptographic link to the previous one. This brings us to the end of this article on Block Chain Technology. We have also come up with a curriculum that covers exactly you to become a certified Block Chain Architect! You can have a look at the course details for Block Chain Architecture here.

  13. Contact Us. For More Info. visit our website: https://www.iqonlinetraining.com call:+917672046498(IND) +19043042519(USA) Mail:-info@iqtrainings.com 411 Walnut street Suite # 8295 Green Cove Springs FL-32043-3443

  14. Thanks! Visit:-www.iqonlinetrainings

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