“Blockchain” - the term itself essentially blew up in the past two years, and it is now becoming a norm in the industry to implement a blockchain based solution to create trust among users in the system for better and faster transactions.
But the biggest question I get from some of our customers, is this:
Is blockchain essentially a big blown-up linked list that stores encrypted information at each node?
I thought I would let some of our engineers answer here about this.
Alongside AI, Blockchain has become one of the buzzwords actually. There are lots of misconception about Blockchain. Let me clear the confusions here. The Blockchain is not an Encrypted Linked-list by default.
The Blockchain is a database(ledger) shared by all the nodes participating in the system, thus allowing consensus to securely validate every transaction (Read/Write).
it is now becoming a norm in the industry to implement a blockchain based solution to create trust among users in the system
Yes. Because Blockchain has a vast scope and can help in sectors that involve any kind of communication, database, decentralized system that will maintain the consistency as well as the verification process and also remove the middle-man needed for either thing.