What is blockchain technology and how does it work

Blockchain Technology In Hindi: today’s Internet In time everyone wants to get all the information related to blockchain. There is only one question in everyone’s mind. What is blockchain and where is it used,

So if you have similar questions in your mind then in today’s article we will blockchain what Is, blockchain In Who? From technology of use Would Is, blockchain technology Of Advantages what Is We are going to share all the information related to this type with you. So read this article till the end to get all the important details of Blockchain.

So let’s start today’s article to know more Blockchain what is technology in hindi,

What is Blockchain Technology (Blockchain in Hindi)

blockchain A kind of technology, that is, a platform on which records of any digital currency or digital thing can be kept. In simple words, Blockchain is a digital ledger.

What is blockchain technology and how does it work (Blockchain Technology In Hindi)

Whenever a digital transaction occurs, the record of all its information is kept safe by the blockchain itself. Blockchain consists of a chain of many blocks in which the record of digital transactions is saved in the block. in the blockchain data It is encoded by cryptography technology called Hash.

Blockchain is a Decentralized Public Ledger (public decentralized ledger), i.e. buyers and sellers can transact without any bank.

Being a Decentralized Ledger, it has transparency so that Network all related to computer Till the copy of Ledger is reached. Due to which it is very difficult to tamper with it. Therefore blockchain technology can be considered secure.

Overall, Blockchain is a decentralized digital ledger, through which Digital CryptoCurrency Records of transactions can be kept.

For your information, let us tell you that the first crypto currency from the blockchain Bitcoin was created.

History of Blockchain

Blockchain technology was invented by Satoshi Nakamoto in the year 2008. Satoshi Nakamoto was the first person who also invented bitcoin.

Satoshi Nakamoto also invented bitcoin, he created blockchain technology to record bitcoin transactions.

The purpose behind Nakamoto’s invention of the blockchain was that he wanted to create a decentralized digital ledger that is not controlled by any third party such as the government or bank, and the public can control their own money.

How Blockchain Technology Works

As you have learned so far in the article that Blockchain is a technology that is used to save the record of all the information related to the transactions of cryptocurrency in the public ledger.

Digital currency transactions can be done without any third party. When a coin is transferred by a computer, its information reaches all the computers connected to the network, and the transaction is verified.

After this the data of the transaction is encoded in blocks by cryptography technology and secured. Similarly, many types of blocks together form a public ledger, which is called Blockchain.

What is the technology behind blockchain technology?

If you also want to know about the technology behind blockchain, then now we are going to tell you the names of some of the main technologies below. Which is as follows :-

  • Program (the blockchain’s protocol)
  • Private Key Cryptography
  • P2P Network (Peer-2-Peer)

Where is Blockchain Technology Used in Real Life?

You must have known about the name of the technology behind Blockchain, but now we are going to know about where Blockchain technology is used in real life :-

  • ShoCard :- Let me tell you that Showcard works to store your identity. So that you can be verified very easily in the bitcoin blockchain.
  • Symbiont :- Talking about Symbiont, it gives good smart security in blockchain.
  • Follow My Vote :- It works to change the way any person votes and it is planning to become the first open-source online voting solution in the world.
  • Arcade City :- Talking about Arcade City, it is a decentralized ridesharing service. Which most people know as the Uber killer.

How secure is blockchain

In fact, we all know that nothing is secure in the Internet, but if we talk about blockchain technology, then it can be considered to be quite secure as compared to other technologies.

Let us tell you that if a person wants to do any transaction in the blockchain, then first of all they need to agree to all the nodes of the whole network. This is because only then that transaction will be considered valid, or if we look at it in a way, it is such a technology where no single entity can say whether the transaction has happened or not.

If you are thinking of hacking it, then you should know that someone has to hack it. Bank As such, only one system does not need to be hacked. Because in this you need to hack all the systems located in the total network.

Therefore, if a person is planning to hack in this technology, then he must have come to know by now that it is not even that easy.

Advantages of Blockchain Technology (Advantage of Blockchain in Hindi)

So let us now in the next post Advantages of Blockchain TechnologyLet’s discuss about it –

  • With the help of blockchain technology, you can do transactions without the permission of any third party.
  • Once the data is saved, it is difficult to manipulate the data.
  • Blockchain technology can be considered secure as compared to other technology, because it is not so easy to hack it.

Disadvantage of Blockchain Technology

There are also some disadvantages of blockchain technology, which we have also told you below-

  • The working of blockchain technology is very complex, it is very difficult for a normal user to understand it.
  • Power consumption in blockchain technology is very high, because thousands – millions of computers work on data in real time.
  • Transactions in blockchain technology take place with the help of all the computers connected to the network, there is no role of the government in this, so there is also the possibility of fraud.
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FAQ: Questions Related to Blockchain Technology

What is Blockchain Technology?

Blockchain is a technology by which the records of transactions of digital currency are kept secure in the form of blocks.

What is the meaning of block in blockchain?

Blog in Blockchain means a lot of data blocks. Data i.e. cryptocurrencies are kept in these blocks. Different blogs have different data (currency).

Who Invented Blockchain Technology?

Satoshi Nakamoto, the inventor of bitcoin, invented blockchain technology in the year 2008.

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You learned: What is Blockchain Technology in Hindi

Friends, in today’s article we have told you What is Blockchain Technology In Hindi And have tried to explain every important information related to it well.

If you have got information related to blockchain from this article of ours, then you must share this article of ours with other people as well. If you have any query related to Blockchain, you can ask in our comment box.

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