BLOCK CHAIN

BLOCK CHAIN

Block chains are incredible popular now a days 

What is a block chain ?

How they useful ?

Block chain

            chain of blocks that contain information 

1991 : Digital timestamps like  a notary developed by group of researchers, however it went by mostly unusual 

2009: Adapted by Satoshi Nakamoto to created digital cryptocurrency  Bitcoin

Block chain is Distributed ledger that completely open to anyone and interesting property that once data recorded in block its difficult to change, let us see how does it works

Block contains 3 types 1.Data 2. Hash 3. Hash of previous block

1.Data - The data that is stored inside block depends type of block chain. Ex Bitcoin (stores data regarding sender, receiver and amount of bitcoins)

2.Hash - Hash is similar to fingerprint, identifies block and all of it contents and its always unique, once block is created its hash is calculated and changing something inside block its hash also changed.

3.Hash of previous block: This leads to chain of block and this techniques makes block chain so secure.

• Block chain Transparent, safe, audit able, and resistant to outages
• Block chain makes things transparent, democratic, decentralized, efficient, and secure

Applications

1. Banking and payments
2. Cyber security
3. Supply chain management 
4. Forecasting
5. Networking and IOT
6. Insurance
7. Private transport and Ride sharing 
8. Cloud storage 
9. Voting
10. Government
11. Public benefits
12. Healthcare
13. Energy Management
14. Online Music
15. Retail

like wise in many applications 

Here I would like to discuss about one of company which is using block chain 

MATIC

Our Vision

We are a team passionate about decentralization and better products. The current decentralized eco-system lacks usability and convenience. Decentralized transactions are slow, expensive and complex.

We aim to change this by leveraging a combination of blockchain scaling, developer platform and tools, and a rabid focus on user experience. We aspire to see a world where blockchain gains mainstream adoption, and fulfills it's true promise.

Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based side chains.

Products 1.Wallet : Manage accounts wallets and contracts 

                 2.Dagger: Engine to get real time Ethereum events

Solutions 

• Payments
• Decentralized Exchanges
• Gaming network
• Third party applications and developer platform play

References

https://matic.network/

https://youtu.be/SSo_EIwHSd4