Blockchain technology facilitates global transactions without the need for trusted third parties like banks, reducing transaction fees and confirmation times. It employs a decentralized network where each node updates an open ledger after verifying transactions through cryptographic hash functions, ensuring security against unauthorized changes. Bitcoin serves as the primary cryptocurrency for transactions within this blockchain network, offering a faster and safer alternative to traditional payment methods.

1. Blockchain & Distributed
Network Technology

2. Improvement in internet helps to connect every point all over the world easily.
Anyone can easily do business, provides services by the help of internet. As a
result B2B business concept present in our market.

3. Any business in the world sticks by the means of money only (best known as
currencies). Each country has its own currency to do any business.
But in case of online business trust & faith base of any business. SO people
are trust any third party like bank, govt. agencies & others for transactions.

4. Third party like bank, Govt. agencies & other are taking lots of money as
middle men. Nearly equal to 10-15% of all transactions made by all over the
world.
And hence all the online transactions are made over internet , some people
regularly monitor its , helps to make your transaction successful.
And most of the cases, its take time(2-3 days) to confirm the transactions.
And hence we depend on a particular system, if it fails or hacked by any
unauthorized person our money get lost. Ultimately we are deepens on a
cartelized system, if it fails all work stops.
So to overcome all the issues scientist comes with a new technology call as
Blockchain
BLOCKCHAIN

5. BLOCKCHAIN DISTRIBUTED NETWORK

6. BLOCKCHAIN
The Blockchain distributed transaction network concept introduced in 2008
by Satoshi Nakamoto.
BY using this modern distributed network we can easily transact with each
other without any trusted third party. By using this we can be exchange our
any assets like tangible, physical or digital assets.
House Car CertificateBond

7. In Blockchain network each block (or node) is connect with another in a
distributed manner. So that no central node concept is not available. In order
to update the transaction there some special node named as Miner are
present in the network. To update each transaction every 10min. And a open
ledger present in each node that reflect the whole network transaction.
HOW BLOCKCHAIN WORKS
Miner

8. When a transaction start between two parties after completion it reflects
over the network . And each node updates their open ledger, so that each
and every one can see.

9. FEW MORE ON THE TRANSACTION
Each node in this network update their transaction using crypto technology
called as Hash function. In case of any transaction the sender node and
receiver node compare their hash function code, if it matches then only
transaction is complete otherwise not. And each node n the network must
check the same hash and updates their ledger automatically.
HACKER
In case any unauthorised enter to the network and made any changes, must
have to change in all ledger in the network, it’s quite impossible. So it’s a
safe mode of transaction.

10. All the transaction made in the blockchain network made is possible by using
crypto currency. Bitcoin is crypto currency used for the same in the
blockchain network. Its use in blockchain network for any transaction.
Instead of using card payment or net banking we can use bitcoin for payment
any online transaction. As we know it’s faster & safe.
Bitcoin
Continue…..

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