Blockchain by Kalai Selvi Arivalagan (books for 9th graders txt) 📕

The concept behind the blockchain was introduced in 2008 by Satoshi Nakamoto, who implemented it for the first time in 2009 as part of the digital currency.

At present most of the blockchain implementations are in the financial tech area, though the information that can be stored on the blockchain isn’t limited to financial transactions. The information posted to the chain could represent almost anything: a vote in an election, a bill payment, contract details, property deeds, consumption of perishable goods.

This concept has the potential to impact many aspects of our lives. Any data that would traditionally need to come from, or be checked by, a trusted authority can be published and agreed on by a blockchain network in almost real time. This data must comply with the rules of the network, and the built-in security of the network design means that the authenticity and accuracy of the data can be trusted.

Blockchain is a decentralized, digitized series of information blocks shared in a peer-to-peer network. Each block includes information from the previous block, a timestamp, and transaction data, all providing a unique and unalterable chain of information. Blockchain is the technology behind the popular cryptocurrency Bitcoin, and, for the publishing industry, it could change the way business is transacted by helping solve many of the issues currently plaguing publishers, from rights management to piracy.

In publishing, blockchain could impact sales, rights management, licensing, and contracts.

Publication Date: 09-03-2018

All Rights Reserved

Dedication:
Blockchain Technology