Maybe you are confused about the basics of blockchain, But we are here to help you understand everything about it. Things go so complex when we can not understand them. So let’s go and have a complete idea about this complex topic.

Blockchain

Blockchain is a technology used to keep ledger records of specific industries or companies in a decentralized manner. This technology powers cryptocurrency. Peter Smith is CEO and CO-Founder at Blockchain. And at United Kingdom finance he is also a board member and director. It was set afloat nearly 10 years ago. And was created by an unknown person behind bitcoin. And he was showing his name as Satoshi Nakamoto. Usually, blockchain is not headed by one or two persons as its name shows like block and chain. It means a chain made up of a lot of blocks. But it’s a digital word and is used in this field. It is made by several companies or industries of a specific purpose or field.

Who uses Blockchain.

Big companies like Amazon and also big banks use it for easy and modified processing. Amazon uses it as Amazon managed blockchain service. It provides an easy guide to create and manage the blockchain network. You have to create and run managed blockchain once. After that, it will be so easy to maintain and manage your network. A lot of banks uses this method also. Banks include woori bank, US bank, Natixis, KEB hana bank, Shinan bank, KB kookmen bank, DNB, CIBC and KBC. We have mentioned some popular banks in this list. There are also a lot of banks who avail themselves of this service or idea.

Is Blockchain the future?

It is possible that this technology will be seen as the most important innovation because all types of cryptocurrencies use distributed ledger technology called Blockchain. Blockchain and cloud technology both have a lot of importance these days. And in the coming days there will be huge boom in their demand and use.