The basic application of the blockchain is to perform transactions in a secure network. That’s why people use blockchain and ledger technology in different scenarios. One can set up multichain to prevent unauthorized access to sensitive data. It is not available to the public, and can only be available to authorized entities in the organization. It depends on the organization which type it requires to choose for their work.
The basic application of the blockchain is to perform transactions in a secure network. That’s why people use blockchain and ledger technology in different scenarios. One can set up multichain to prevent unauthorized access to sensitive data. It is not available to the public, and can only be available to authorized entities in the organization. It depends on the organization which type it requires to choose for their work. Advantage using blockchain It provides greater trust among users. It provides greater security among data. Reduce the cost of production. Improve Speed. Invocation and tokenization. It provides immutable records. Smart contracts Disadvantages using blockchain Data modification is not possible. It requires large storage for a large database. The owner cannot access the private key again if they forget or lose it. Real life application of blockchain Here is a list of real world problem where we can use blockchain : In a secure and full-proof voting management system. To supply chain management. In healthcare management. Real estate project. NFT marketplace. Avoid copyright and original content creation. In the personal identity system To make an immutable data backup. Internet of Things Permissionless Blockchain It is also known as trustless or public blockchains, are available to everyone to participate in the blockchains process that use to validate transactions and data. These are used in the network where high transparency is required. Characteristics Permissionless blockchain has no central authority. The platform is completely open-source. Full transparency of the transaction. Heavy use of tokens.
