Benefits and Challenges of Blockchain technology
Blockchain technology is one the greatest inventions in this digital age. It facilitates the exchang e of value without worrying about its security. It seems interesting because it provides a safer, faster and cheaper data exchange option. The most common application of blockchain is bitcoin . If a person wants to transfer a certain amount to someone, he/she must encrypt the transaction request with a private key which can be considered as a digital signature. Such signatures are generated only for a single transaction; hence, authenticity is maintained. With this it becomes obvious that there won’t be invasion of any attacker while transacting a certain amount of money. In an increasingly digital world, chosing blockchain has significant advantages · Decentralized framework — Blockchain allows end-to-end smooth encrypted transactions without the interference or a governing head or centralized body and are carried out by users resulting in safe...