What is BLOCKCHAIN ?
Blockchain is defined as – “it is a distributed database existing on many computers at the same time.”It is always growing as new sets of recordings, or ‘blocks’, are add in it. Each block contains a timestamp and a link to the previous block, so they actually form a chain. The bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority.
A node starts a transaction by first creating a account in & login it with its private key. In other words this is a data structure that shows the transfer of value between users on the blockchain network. IOT also used in blockchain.
In the era of mobile apps, everything can be control by IOT & mobile apps. It also involves IOT that why it is digital & transfer the value of users on the other blockchain network basically its like a chain of users in blockchain. IOT control the things by our mobile apps with just one click.
Few point OF BLOCKCHAIN WITH IOT-:
- Reduce Cost
- Increase income
- Low Risk
Therefore, it help us in many ways. In the era of mobile app it play an important role in these days because this is a very secure mode of transfer your money also because it connects with chain or blocks of users. It has the ability to disrupt many industry sectors and offer endless possibilities and ventures that were once impossible but now are quite the opposite. It is also gives you fruitful results when meld with other technologies.
In conclusion, this is a technology that allows the development of a distributed network of transactions. The blockchain enables the presence of cryptocurrency. Bitcoin is the name of the cryptocurrency. A cryptocurrency is a medium for exchange, such as the US dollar.