What is a blockchain?Why did the blockchain come?


Blockchain: The technology that is changing all the calculations.This is blockchain technology that started in 2009 in the world of technology.

✔What is a blockchain?

  • The blockchain is a medium for customer-to-customer transactions, while maintaining cryptocurrency and security without the help of third parties. Bitcoin was first used as a cryptocurrency. Simply put, this blockchain technology is a medium of direct exchange with a third party without any third party (third party) using internet technology. Third parties are the means of assisting and permitting existing transactions.

  • For example, if you send money from Dhaka to a friend in Khulna, take the help of a bank there, which is basically a third party or government permission to send money legally outside the country, without which you can not bring currency. And this is where blockchain technology will help you transact easily without the help of third parties. Digital money works here as a cryptocurrency with no physical presence.


✔Why did the blockchain come?

  • A trusted medium of transaction in any economy is the third party, which has made the transaction much easier. As well as being the biggest revolution in the technology world so far, internet technology has brought unimaginable improvements to this transaction system. Existing communication technologies have made transactions much easier, yet the modern world has yet to overcome a number of problems.

  • Privacy, security, subordination are three such issues. Beliefs are considered rare in the technology world. Blockchain technology has emerged as an acceptable solution to these problems and its popularity is growing day by day.

Using cryptocurrencies to maintain privacy and security without the help of third parties, this blockchain is a means of customer-to-customer transactions. Bitcoin was first used as a cryptocurrency.

  • This blockchain is a medium for customer-to-customer transactions, using cryptocurrencies to maintain privacy and security without the help of third parties. Bitcoin was first used as a cryptocurrency.

  • We need to look back a little to understand why the blockchain came about. In the nineties, the media was called Guti, a man-controlled broadcast medium where the rest were viewers. Later inventions and inventions of the Internet decentralized the media. But even so, wealth was not equal. The facilities of the modern age were also unequal.

  • For example, we have a huge database but we have no control over it. Some organizations and governments are acting as regulators of that information. If this is the case where real customer-to-customer value can be exchanged without any other third party help that we have not yet been able to do, it would be a truly amazing innovation.For example, if someone wants to send money to someone else, he has to take the help of a third party or if he is out of the country, he has to be accountable to the government. If there is a place where one can easily conduct all personal and business transactions with one another without the help of third parties with the help of internet, it remains safe and trustworthy, it will be considered as a wonderful revolution. And that's what blockchain technology is going to do.

  • Probably very few people know that cryptocurrency is a by-product of blockchain innovation. In a 2006 statement, Satashi Nakamo said, "His goal was to develop a customer-to-customer electronics cash system." As a result, cryptocurrency was born as a digital currency. One of its most important features is decentralization where there is no central control.In the central economy and banking system, the government controls the central bank currency supply demand, which is not the case here. It uses cryptography as a means of exchange, digital money, which is one of its most important components and at the same time ensures the security of communication, information and transactions. Bitcoin was first created in 2009 as a decentralized cryptocurrency.The number of these cryptocurrencies, known as digital assets, stood at 1324 as of November 2017, and the number is growing. Some of the notable ones are Bitcoin, Lightcoin, Bitcoin Cash, Ripple, Ethiram and Dash.

The first age of the Internet was called the Internet of Information. The era we are entering now is called the Internet of Value, based on this blockchain. It is basically a distributed shared ledger (where the information of the ongoing transactions reaches everyone connected to the network), which is connected to millions of customer-to-customer computers. No central computer is used here and no central control.Records are kept and blocks are used for transactions. Thus, a blockchain is a blockchain of millions of transactions, where everyone connected to the network has an updated copy of the organized transaction. From stocks, bonds, intellectual property to any type of digitized value can be transferred through this. That being said, this technology will become the second revolution in the world today.

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