Blockchain is a quickly emerging technological advancement with numerous applications. The biggest and perhaps best known is probably cryptocurrencies like BitCoin, but even beyond that the technology is finding a variety of uses in our hyper-digital world. Almost all aspects of our digital applications today can be migrated to the blockchain, with positive effects like enhanced security, faster performance, and greater accessibility.
We can help you create a system that is tamper-proof through our blockchain technology and design services! Distributed ledgers and immutable records are the two key principles that govern blockchain. Due to this, blockchain can be securely and safely applied to aid your business needs like smart contracts, digital ID cards, monetary transactions through networks like BitCoin and Ethereum, and even large network data like health & insurance data.
The protocol behind blockchain means data (or information) is stored in a distributed digital ledger. So rather than having all aspects of the data stored in a single space, it is stored in several places. These ledgers are also linked together to provide immutable (unchangeable) records. What this means is that data from one “block” links to another, and can therefore be more easily verified.
To understand this better, let us take the example of bookkeeping. Traditionally, we use a double-entry system. There is no way to verify the authenticity of the entry, and it can be easily manipulated so it is hard to trust. With blockchain, a third cryptography seal is added, which creates a tamper proof record. Because new blocks are added on top of old ones, and these new records depend on information from the old ones, it creates a system that is tamper proof. Any attempts to edit or wipe data will be ignored. You can get in touch with us for more information.