What is blockchain?
Blockchain is a decentralized distributed ledger through which transactions are made, by using cryptocurrencies
like bitcoin, ethereum, litecoins etc. It is a fast, secure, and reliable medium to perform transactions.
- Security of data being stored in it.
- No third party or middleman is involved.
- No single authority / Decentralized.
- Each participant of the network has access to data / Distributed computing.
- Faster settlement
Blockchain technology can also take networked business models to a new level by supporting a whole host of breakthrough applications: native payment systems that run without banks, credit card companies, and other intermediaries who will cut cost and time from transactions.