Necessity is the mother of invention and so is true with the technology. There have been a series of developments in this field, and one of the most transformational ones has been tat of Blockchain technology.

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The Idea Behind Blockchain Technology
Necessity is the mother of invention and so is true with the technology. There
have been a series of developments in this field, and one of the most
transformational ones has been tat of Blockchain technology. It all started in the
year 2009 when Satoshi Nakamoto introduced the concept of Bitcoin. At that time,
Blockchain formed the underlying framework of Bitcoin exchange. However, over
a period of time, Blockchain emerged as a popular technology itself.
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What Led To The Development Of Blockchain
Technology?
Before heading forth to understand what actually led to the rise of Blockchain
technology, we need to understand what led o the rise of the same. Necessity is
the mother of invention; increasing reliance on digital forums for transactions and
information exchange leaves a lot of data to lie astray in the virtual world. It makes
the data vulnerable and prone to attack. All this gave rise to cybersecurity issues,
delayed transactions, and vulnerabilities of data. So, what is the way out? Well,
Blockchain paved the way for new developments. You can find so many use
cases of the same.
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How Does Blockchain Address The Of
Conventional Technology?
1. Peer-to-peer network- One of the key challenges of the conventional
technological platform is that it is highly vulnerable and is governed by a third
party. You can take the example of any of the platforms; everything is
governed by a third-party. This often leads to increased cost and delayed
execution. On the contrary, Blockchain works differently. It works on P2P
interaction, which means there is no third-party intervention. By nullifying the
presence of third-party, it becomes easier for the interested parties to interact
with each other directly and complete the transaction or exchange.
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2. Decentralization- Data is the king, and loss of the same can be
devastating. Most for the business strategies are now curated using the data
assessment. But the conventional medium that we use is not only vulnerable and
susceptible to attacks, but at the same time, there is also a probability of losing the
data. A single point of failure can impact the entire functioning. But, with
Blockchain technology, you don’t really have to worry about it. Blockchain offers
decentralization; that is, the data is distributed across the network, which makes
data easily accessible. The failure of the network or the system doesn’t impact the
functioning.
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3. Data Security- While the digital platforms do make transactions easier and
faster, at the same time they pose a threat of losing the data, malicious attack
which may lead to loss of data or hacking of data. With Blockchain technology, all
these probabilities are nullified. Every data entered in the DLT platform is
encrypted cryptographically, which makes data hacking becomes difficult. Thereby
enhancing the security of data.
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With these advantages, Blockchain emerged as a powerful technology that soon
started impacting different industries. It also gave rise to the demand for
Blockchain professionals and Blockchain experts who can leverage the benefits of
this technology for the betterment of the business.
Blockchain Council is a leading platform offering certification courses in the field
of Blockchain technology. If you also wish to make a career in Blockchain
technology, then you must enrol for Blockchain certification at Blockchain Council.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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9. THANK YOU!
Any questions?
You can mail us at
hello@blockchain-council.org
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