Latest technology block chain. Copy.pptx

The information about latest technology block chain.

1. BLOCK CHAIN A block chain is a decentralized and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retro-actively without the alteration of all subsequent blocks and the consensus network. A block chain is also a method of recording information that makes it impossible or difficult for the system to be changed or manipulated.

2. CONSORTIUM BLOCK CHAIN

3. PUBLIC BLOCK CHAIN

4. PRIVATE BLOCK CHAIN

5. IMPORTANCE OF PUBLIC BLOCK CHAIN Reducing the risk of fraud and increasing trust in the financial system. For example a public block chain could be used to record and verify the transfer of funds between bank or other financial institutions. They exchange and mine cryptocurrencies such as Bitcoin and Lite-coin . They allow everyone to participate in the network.

6. IMPORTANCES OF PRIVATE BLOCK CHAIN It provides added security to sensitive information. It allows greater control over who has the access to the data on the network. It can reduce costs associated with traditional business processes ,such as paper-based record-keeping and third-party verification. It can increase efficiency by streamlining business processes and eliminating intermediaries.

7. IMPORTANCE OF CONSORTIUM BLOCK CHAIN It increases collaboration among organizations in order to tackle industry-specific challenges. It creates technical standards and guidelines for web technologies worldwide. It does not include transaction fees.

8. IMPORTANCES OF BLOCK CHAIN IN EDUCATION It can create an immutable record of educational data including transcripts , degrees and certifications that is verifiable and tamperproof. It can enhance transparency and accountability in the educational field. It can transform the education sector by improving student records management.

9. IMPORTANCE OF BITCOIN AS AN EXAMPLE OF BLOCK CHAIN DECENTRALIZATION : Bitcoin operates independently of any central authority , allowing for peer-to-peer transactions without the need for intermediaries. SECURITY : Bitcoin uses cryptography to ensure secure transaction and prevent fraud , making it more secure than traditional banking systems. CONVENIENCE : Bitcoin can be used to make quick ,secure and inexpensive payments online ,eliminating the need for bank transfers or credit card fees. INVESTMENT OPPORTUNITY : Bitcoin has become a popular investment option for many people ,with its value fluctuating rapidly and offering the potential for significant returns.

10. REFERENCES www.igi - global.com > dictionary www.oxfordreference.com > display Bitcoin : A Peer-to-Peer. (2008)