How is the information stored in Blockchain Technology secure?



Let’s take an example to understand the Blockchain Technology.

Consider a special Google spreadsheet which is shared by every computer in the world through the internet. Every time the transaction happens, it adds a new row in this spreadsheet. Anyone with a mobile device or computer connected through the internet can access the spreadsheet. Anyone can see and add the transaction in the spreadsheet, but the spreadsheet doesn’t allow anyone to edit the information which is already there. This is the Blockchain technology.

The blockchain store the information in blocks and each block is coded with the unique code. If the information in the block is changed the code is also changed and the edited information is considered as a new information. Thus, the new information is stored in the new block with the unique code. This makes blockchain unhackable and tamper-proof. 

Blockchain’s very first and most successful application is Bitcoin, a digital currency for the modern world. This was created by Satoshi Nakamoto.

Unlike the tradition money, we can send Bitcoin money to anyone from anywhere without asking permission from banks and governments. That’s why there is no need of third party intermediate like the bank.

So, when it comes to beginning the best Blockchain development company without hesitation you can go with Fifium. This is the company working on emerging technologies, with the team of experts in the related fields and delivering the various successful application like Blockchain, IoT, AI, and VR. We have developed our credibility and position as a leading mobile application development company in UK. If you have to design application for your upcoming project, then contact us now.

Location: London, UK

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