Skip to main content

Posts

Showing posts from December, 2017

Blockchain awesome story backbone to bitcoin

Bitcoin demonstrates the purest aspects of blockchain technology. It's the baseline that all other blockchains are compared to and the framework that nearly all have drawn upon. Knowing the basics of how the Bitcoin blockchain operates will allow you to better understand all the other technology you encounter in this ecosystem.

The process how messages stored
The Bitcoin blockchain is one of the largest and most powerful blockchains in the world. It was designed primarily to send Bitcoin, the cryptocurrency. So, naturally, in order to create a message in the Bitcoin blockchain, you must send some Bitcoins from one account to another.

When you send Bitcoins from one account to another, a transaction history is recorded in the Bitcoin blockchain. After a transaction has been entered, the information can't be removed — your message will be around as long as Bitcoin is in existence.
This concept of permanence is powerful — it's the most important characteristic of any blockcha…

Blockchain four possible disadvantages you need

There are some possible disadvantages. But, these are just a list sof ar. You already came to know about complete information on Blockchain in my previous post. Here the details are as follows. The disadvantages are as follows: Lack of privacyLoss of personal responsibilityLoss of jobsReintermediationAlso the critical blockchain technologies explained here.
Lack of Privacy


Public blockchains do not hide any of their data. Instead, everyone is able to read the whole history of transactions. This level of transparency is frightening for those who want to protect their privacy. These concerns are understandable when taking into account the level at which personal data are already collected and utilized by large corporations or intelligence agencies.

Loss of Responsibility

Loss of personal responsibility is often considered a consequence of disintermediation. Intermediaries not only bring different parties of a contract together but may also provide guarantees. They offer reconciliation in…