Enhanced security ,faster transactions and easier to track transactions , decentralized , no third parties , true trace-ability , better transparency etc etc, this has so much mind blowing positives and already revolutionized the world and its only the beginning how this is going to change our world . And im happy to joined this community i have so much learning to do and im eager to get started and become a block chain developer in this early stages of this revolution.
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There is no video on this topic weblink. What are we expected to do?
I am new to Blockchain. I am not ready to discuss at the moment.
Am I doing the right thing? Kindly advise.
Itâs just a discussion thread about this section.
What do you mean?
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I have nothing to discuss at the moment. Thatâs what I meant. Thanks for responding
youâre welcome, tag me when you have questions
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Thatâs so nice of you. I will tag you. Thanks
Benefiets of blockcain tecnology:
Blocchai is a database which you can ad information but never can take it ouit. The database registers al data so that no budy can claim something that is not his/hers. In case of manipulation the block chain using computers can immediately refus the excistance of asked property. For Instance one can not claim any bitcoin which is not belonging to them. Another Benefit of block chain is that it is decentralized, open to avery one globally, very cost afficiant. It Alows to build projects without permission of a third party. It is totally peer to peer technology. You could say; no government, no third party like banks and insurance companies are needed. Another best benefiets is the block chains immutability.
Very secure
Efficient
Decentralized
Immutable
No middle man
With Blockchain, you have a verifiable, hack resistant and tamper resistant system that is very transparent.
To me the key benefits of a Blockchain are the decentralization and immutability. An eternally replicating, unchangeable distributed blockchain is an amazing creationâŚit canât be censored or stopped. The information on it is transparent and cannot be changed. This is a revolutionary technology and Iâm so excited to be involved so early as we begin to see the use-cases emerging. I was around for the early internet and this feels very similar, expect this time I know I need to get involved rather than just observe
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[some] Benefits of Blockchain Use
- Reliable & consistent
- Permanent and indelible record of transactions
- Transparent yet secure
- Accessible by all - no permission needed to use or examine
- No third party in transactions
- Data integrity across network - no risk of data loss or change
Agree with the attributes specified above. I would add that it is a sovereign, self-regulating system.
Besides the technical aspect, I think social equality could be a major advantage. It allows power from the very few, be divided among all of us. Furthermore underdeveloped countries get a change to be part of our âinformationbubbleâ and therefore get a larger part of our common wealthâŚ
It is transparent, secure, trusted, efficient, quick
We wonât need to depend on the banks. Be Your Own Bank. Cost effective.
No more face to face audits with someone that doesnât believe you or trying to make something out of nothing.
Hopefully more freedom.
Truth
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By using a blockchain, you gain having:
- a decentralized database (no single point of failure)
- immutable records (cannot be edited and deleted)
- trustlessness (dont need an entity to verify records)
- transparency (easy to verify and audit records)
I know thereâs a lot more advantages, but thatâs all for nowâŚ
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Iâm hoping that blockchain technology will give back freedom to hard working people.
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Disintermediation - no need to pay for a middleman. Smart contracts will do the work for us.
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BENEFITS OF USING BLOCKCHAIN:
Decentralization
Transparency
Security
Traceability
Efficiency
Time utilization
Cost Effective
Levels playing field for many
I think blockchain allows the unbanked portion of the worldâs population to engage in business. I think a trustless network with no central authority is the future of finance and the transfer of value. The lack of a central authority makes a decentralized network like bitcoin less vulnerable to an attack like a central authority. Blockchain also allows all users the ability to be their own bank as opposed to a middle man handling their funds and telling you how and when to spend it. The ledger of the blockchain also allows for transparency which is lacking in todayâs financial system
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