Topic: BLOCKCHAIN (Read 283 times)

The Internet is a technological wonder that has made life easy for everyone. Many new ideas are being brought to light which can make using the internet even easier, thus simplifying the life of people everywhere. Now you can sit at home and order food, watch movies, shop for clothes, buy tickets, book hotel rooms, play games- the list is endless! The Internet was also successful in bringing a revolution for how businesses around the world operate. With technological advancements, people can browse the internet using smartphones, tablets or laptops from anywhere. The Internet facilitates a free information flow and ensures direct interaction among clients. What’s more, is that the internet has enabled businesses from around the world to operate across national borders, giving them even more exposure.
Dependence on Internet
In this day and age, the world is heavily dependent on the Internet, many new businesses are growing around it. Economies in many countries are bound by Internet’s toughness to attacks and threats. Cases, where the attackers are locking down the internet and causing significant loss to online businesses are happening more and more. In today’s world, where businesses are growing around the internet, it is important to protect it. Blockchain technology is another revolution that is taking the financial world by storm. Digital currencies are already making their way to the market and it is blockchain technology which is behind all of these cryptocurrencies.
Blockchain technology comes with a huge potential in different fields; it exists within the internet space. It’s important to know the implications of cyber attacks on blockchain technology. This new technology is based around the internet and such cyber-attacks can put a damper on advancements.
The Implications of Cyber Attacks
Blockchain is getting wide acceptance, businesses from around the world are showing interest in this new concept. Blockchain technology is now used frequently between internet users, top businesses and companies have started adopting it for increased features and trust among customers.
There are some key aspects associated with blockchain technology. One of the parties in this blockchain transaction needs to be connected to the internet, so that he or she is able to verify the transaction. On successful verification, the transaction will then be broadcasted or communicated to all nodes connected to the network. In simple words, for any blockchain transaction to happen or exist, all nodes within the network must receive and record the transaction. It’s important to have internet access to make any kind of digital transaction using Blockchain technology.
Network Interruptions
Dependence on the internet and cyber-attacks are now a growing concern among blockchain technology enthusiasts. Network interruptions, because of cyber-attacks, can cause serious damage to the blockchain ecosystem. Attackers or hackers can easily track internet traffic patterns online to identify any user as a Blockchain peer – even though this new technology is considered to be more secure and gives people the freedom to complete transactions anonymously. In the last few months, a lot has been said about Blockchain’s vulnerability to reroute hijacking. The truth is that cyber-attacks seriously undermine and weaken the confidence of digital currency users everywhere.
However, the best thing about blockchain technology is that it is strong enough to withstand all these problems. This new technology will remain resistant to all DDOS attacks because of its limitations such as transaction fees and block size limit.
Bottom Line
Lots of speculations are being made around the topic with members from different communities trying, to explore all different avenues to carry out digital currency transactions without an internet connection. New solutions and options are being created, something which will help you use this technology without internet. Some of the new solutions include broadcasting transactions using SMS service of smartphones. Another option is communicating through Satellite, whenever there is a network interruption. By not completely relying on the internet, users can increase the usability and availability of Blockchain technology in days to come. Find out more about the blockchain here: https://www.bitcoinofamerica.org/blog/blockchain-need-internet-work/

Blockchain technology has great potential, it is the stepping stone into the future and I am glady to say that we are part of this
What a great time to be alive !
Blockchain tech is being used by individuals, corporates, banks and governement to solve daliy issues.
One thing that has drawn me to cryptocurrencies was the technology behind it
My opinion is that Blockchain is the real innovation, It seems that more people are taking note of this

Blockchain used to solve payment issues:https://techcrunch.com/2018/05/21/tradeshift-fires-up-blockchain-to-address-late-payment-problem/
Blockchain support by Europe Government/2018/05/21/european-parliament-passes-resolution-supporting-blockchain-technology/]http://www.the-[Suspicious link removed]/2018/05/21/european-parliament-passes-resolution-supporting-blockchain-technology/

After all,it is an object to prevent tampering with data.
So whatever it is anything okay.

The most important use is a way to transfer and store data without a central authority interfering or shutting it down.

Blockchain is a distributed database ledger which is characterized with decentralization, transparency and low cost. Right now， it has been used in gaming, financing, healthcare , logistics and so on.

Ethical business practices since blockchain makes it possible to track every transaction with complete transparency, businesses with a record of human rights abuses -- the fishing industry, for instance, -- will (hopefully) take on more ethical business practices. For more information, you may refer to this article

https://www.entrepreneur.com/article/305859

Blockchain is used in electronic money, which is used extensively in the banking industry, is a form of accounting technology distributed for the new digital age.

Blockchain is a decentralized  database

Now this may help you to learn the users quickly I hope

Blockchain is a ledger where transactions are transparan

The blockchain is a continuously growing list of records. It is suitable for recording events, managing identity, documenting facilities, tracking food down to voting systems.
Any system that needs reliability without interference from any third party is an application for the blockchain.
Their use in money began with Bitcoin by Satoshi. Without the need for a government, or centralized system

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Blockchain is a technology in the world of cryptocurrency that serves to reduce the falsification of existing data on projects that use this blockchain system.

The Blockchain is the latest buzzword that has now become a part of everyone’s vocabulary in this tech era. Blockchain is used to manage a database that records transactions of Bitcoin or any other digital cryptocurrency. It could also be called a Digital Ledger for those type of transactions. But every major trend and technology has its limitation. And one of the problems of blockchain technology is the scaling problem. As this technology is making its way into every field, one of the common questions asked by digital currency users is whether blockchain will run out of space or not. Over time blockchain’s technology use will increase and at some point the space will become a matter of concern.


Read more about the block chain here: https://www.bitcoinofamerica.org/blog/will-blockchain-run-space/

Since the incention of blockchain in 2008 a new era of financial services was born with the rise of bitcoin as the first decentralized cryptocurrency, without any central controller or bank influences. The stability of the currency is issued by the fact that a consensus of millions of computers are connected to the network, driven by market forces and natural liquid flow of money. Hence there is an unlimited application for the use of BLOCKCHAIN
 

Blockchain - a sequenced chain of blocks containing information, built according to certain rules. Most often, copies of the chain of blocks are stored on a variety of different computers independently of each other, and its application is boundless.

Blockchain is used in crypto-currency (obviously) but the original concept known as the distributed ledger was/is heavily used within banking industries. Blockchain, being a form of distributed ledger tech for the new digital age, has sparked interest in a variety of industries such as voting services, digital rights in the entertainment industry and healthcare record keeping services. These are only a few, take a look at some more here: https://www.inc.com/john-white/9-industries-that-will-soon-be-disrupted-by-blockchain.html

Cheers

as far as I know, Blockchain is a coding system technology. so, where codes are used, there is blockchain can be used.

BLockchain is ushering in a new frontier of collating digital information. It will be faster, stronger and ultimately the most efficient way of doing business in the future. Their will be unlimited applications for its use from payment solutions to protecting your identity. Pretty cool!

Blockchain is a way to keep data decentralized and safe from fraud, random failures and falsification. It may be used where there are high demands to security and stability of the system and database. Where there is high corruption, where it is necessary to process huge amounts of data quickly and cheaply, where anonymity is needed. Where it makes sense to use your own internal currency, as well as use ICO for raising money for development.
 
Banking operations, elections seem to be reasonable ways to use the blockchain. However, other areas also can take advantage of it, even if there is no special need for decentralization.

Quite honestly, the various uses are limited only by our imagination. This is like asking the question "what are the various uses of the internet?" back in 1995. It's a wonderful question!

We're so early on in blockchain we haven't thought up or realized a fraction of how this technology will be used.

Currency is a great first application, obviously. But blockchain is a keeper and transactor of information. So think about how much information is exchanged for various business or societal activities? And then think about how valuable it would be to have a more secure and error free method to conduct those transactions of information? That's the best benefit of blockchain technology.

We have an exciting future ahead of us with this one!

There are many uses and they are in progress, for instance, for medical records, for public enterprises... I recommend you to read the Chapter 9 of the 2018 Joint economic report of the US, they make a debate about crypto, about the blockchain tech and how it can be used: https://www.congress.gov/115/crpt/hrpt596/CRPT-115hrpt596.pdf

Also, it will give you a general idea of what are they thinking about regulations and how the blockchain tech is seen by the US Congress.