Blockchain Technology — A New Revolution Into The Techno World

Right now we are living in an age where you can keep your money in a digital wallet without linking it with a bank. It means you can transfer money to anyone in seconds without asking your bank for permission and without paying bank fees or any other third-party costs. You have proper control over your money. This is only possible because of Blockchain Technology.

Blockchain Technology is the concept of storing information like transactional data in several databases, also known as Blocks. Blockchain stores information in multiple places on a computer network. The Information that is stored on different blocks in the Blockchain has a certain storage capacity. A fresh block is added to the chain when the previous block’s storage capacity is fulfilled. A filled block is added to the chain over time, that’s why it is known as Blockchain Technology. Blockchain Technology is immutable means; the stored information cannot be tampered with or unchanged. Data stored on Blockchain is accurate and safe. That is the reason why Blockchain Technology is a reliable source of storing data especially financial transactional data.

Originally published at https://www.protolabzit.com.