Best Blockchain Solutions

Matching meaningful Blockchain solutions for Businesses

Doing things faster, cheaper, more secure and trustworthy with Blockchain

Chinese president Xi Jinping calls Blockchain a “Breakthrough Technology” (CNBC May 2018).

The next step of the internet has arrived. During the next few years we will witness a complete overhaul in our digital world about how data and information on the internet is recorded, organised and run. Internet 2.0 has already arrived and the backbone technology behind this new era is BlockchainTechnology.

Blockchain = P2P Network + PKI + Crypto-graphic Hash

Blockchain is a secure distributed transaction ledger database that is shared by all parties in a computer network. Every transaction is recorded and stored to create an unchangeable and fully auditable transaction log that cannot be altered or changed which can stop issues such as double spending. 

The cleverness of Blockchain is that it is not an entirely new technology. It is in fact an innovative use of 3 long standing existing technologies that have been masterfully combined together. 

These are a combination of:

P2P – Peer to Peer 

PKI – Public Key Infrastructures 

Cryptographic Hash – Encryption Technologies

BENEFITS OF BLOCKCHAIN / DISTRIBUTED LEDGERS

Trusted

Computer Servers within the network much reach a consensus, which in turn allows for transactions to take place between otherwise unknown parties.

Secure and Consistent

The data base is an irrevocable record of transactions that cannot be reversed once it has been stored. Data cannot be tampered with or revised. This creates an auditable transaction history. Furthermore, if one or more nodes within the network stops working there is in built redundancy and the Blockchain will continue to operate.

Real Time Data Storage

All nodes within the network will store an identical copy the ledger, which is updated automatically.

Decentralised

The decentralised nature of the Blockchain eliminates the need for a central authority to process, validate or authorise transactions vs a centralised system. Centralised systems can leave the system vulnerable to a single point of failure.

Copyright @ Best Blockchain Solutions Ltd 2018

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