Blockchain the hot topic is nothing much than a chain a blocks essentially the blocks are computers(nodes) who all agree upon a common state called the consensus.
Main idea behind blockchain is the idea of decentralisation. No one controls the data but everyone agrees to the state.
It has many use cases like the cryptocurrency , NFTs , Token.
All the trust issues are solved with the coming of blockchain.
Why ?
Because the contracts written in blockchains are immutable i.e. they cannot be changed . Hence, zero manipulations.😃
They give users their data unlike traditional web2 apps like Fb or twitter where your data relies on some external servers.
Blockchain codes are censorship resistant and transparently verifiable.
The heart of all blockchains -> smart contract is code that will always run the way it is programmed in the future.
Blockchain technology has the potential to revolutionize many different industries and has already demonstrated its value in a number of use cases beyond NFTs. Some examples include:
Supply chain management: Blockchain can be used to track the movement of goods through the supply chain, helping to improve transparency and efficiency.
Financial services: Blockchain can be used to securely and transparently record financial transactions, reducing the risk of fraud and errors.
Identity verification: Blockchain can be used to securely store and verify personal identification information, helping to reduce identity fraud.
Healthcare: Blockchain can be used to securely store and share medical records, improving the accuracy and efficiency of healthcare delivery.
It's important to recognize that blockchain is a versatile and powerful technology with the potential to transform many different industries. While NFTs have gained a lot of attention recently, they are just one example of the many ways in which blockchain can be used.
With this, I end this blog. See you in the next one 👋.
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