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Blockchain type and application field.

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source : pixabay

The type of blockchain.

– Public Blockchain:

A public or unauthorized blockchain network is a network that anyone can participate in without restrictions.

Most cryptocurrency types run on public blockchains managed by rules or consensus algorithms.

– Private or authorized blockchain:

Private or authorized blockchain allows you to control users who can access blockchain data. Only authorized users can access a specific dataset.

The advantage is that the permissions between nodes can be set differently without batch, and only authorized targets can participate as nodes, so it operates with a smaller number of nodes than the public blockchain, which is faster.

# The business value of the blockchain.

The use of blockchain technology is expected to increase significantly over the next few years. This breakthrough blockchain is considered an innovative and disruptive technology in that it will change existing business processes through simplified efficiency, reliability and security.

Blockchain technology provides specific business benefits that help businesses in the following ways.

· Build trust between the parties by cooperating in a way that provides reliable shared data.

· Data silos are removed by integrating and integrating data into one system through distributed ledger shared within a network accessible to the authorized party.

· Provides a high level of security for data

· Reducing the need for outside brokers.

· Create a real-time anti-modulation record that all participants can share.

· Helps participants ensure the authenticity and integrity of the products placed in the commercial flow.

· Easily track products and services across the supply chain

# The beginning of Bitcoin blockchain?

An anonymous person named Satoshi Nakamoto recognized the risks of a centralized financial system through the 2007 financial crisis and devised a blockchain technology that enables safe transactions between individuals. After that, in 2009, we developed a cryptocurrency called Bitcoin by applying blockchain technology.

In fact, Satoshi Nakamoto solved the problem caused by developing and applying the blockchain by developing Bitcoin, an electronic currency system operated only by P2P, rather than developing it first and incorporating it into Bitcoin.

Blockchain application field.

There are a wide range of areas where blockchain can be used.

Typically, it is used as a virtual currency that everyone knows best, and at this time, all participants can check their transactions by storing money transactions on the block, and it is used to prevent data forgery in every transaction.

In addition, it is used in various fields that require reliability and transparency, such as tracking cargo systems, P2P loans, country of origin to distribution, electronic voting, electronic citizenship issuance, vehicle sharing, real estate register, and medical record management.

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