What is a BlockChain Technology ?
Blockchain or DLT (Distributed Ledger Technology) is an electronic ledger has become a buzzword in the past couple of years. Similar to a relational database that can be shared openly among public or private users. It creates an unchangeable record of transactions, each one time-stamped and linked to the previous one.
Each digital record or transaction is in the thread that is called a block (hence the name Block-Chain), and it allows either an open or controlled set of users to participate in the electronic ledger. Each block is linked to a specific participant.
Blockchain info can only be updated by consensus between privileged participants in the system, and any new data entered, can never be erased. The block-chain contains a true and verifiable record of each and every transaction ever made in that system.
Our experts at your service for BLOCK CHAIN
It’s being tested in various industries. This technology still in experimental phase have created marvels, rapidly maturing and opening new possibilities, especially in terms of efficiency and cutting costs. Businesses are taking this into note, but are also puzzled about the potential benefits and the way this technology can be utilized for gaining competitive advantage.
In that sense, UKB IT Solutions has stepped forward in BlockChain Services to provide the perfect answer.