The easiest method of keeping the online market free from conmen and corruption is to impose stringent regulations on it. But since that is a pipe dream and every regulation comes with a loophole, the more feasible way to proceed in is using an incorruptible record keeping service that can be used as proof of payment. One such way that has come to the fore is the Blockchain method. And you’ll be surprised how iron clad it is.
Blockchain is impossible to corrupt because it has so many copies of the same record stored in undisclosed devices that locating and changing them becomes a task no CPU can succeed in. In fact, changing even one record after it has been generated is very hard, if not impossible.
The system is named thus because the record of your transactions (called block) is replicated and stored in different devices resembling a chain in structure. What’s more, the system even rewards people who are part of it. The reward can be taken as a compensation for the internet charges, CPU space and electricity that may be consumed in the process of storing data on the device you use.
There’s more. Blockchain is not something that we might see sometime in the future. It is being used right as you read this, being instrumental in tracking deliveries, updating inventories and possibly even reforming democracies where every vote is accounted for.
Blockchains are the future of internet security or at least online transactions. TechiesPad has collected all this information and more into a neat infographic that conveys everything you need to know about the technology and where it may be used. You can find it below.
An Ultimate Beginner’s Guide to BlockChain:
Author Bio: Stacy Miller has been blogging ever since she was in high school. Her love for technology and disdain for generic Hollywood movies has only grown over the years. The source of this infographic is found here.