IDG Contributor Network: How blockchain technology could affect the future of network engineering
Blockchain, also referred to as distributed ledger, is the concept behind the success of Bitcoin and provides a dynamic digital register of transactions. Think of it as a database that’s distributed throughout a network. Information is continually shared and reconciled throughout multiple nodes and each one has an identical copy of the database. Transactions within this database are audited and agreed upon by consensus. This decentralized method of keeping track of changes ensures the ledger can’t be practically controlled by any one entity, eliminates the possibility of single-points of failure, and allows for the verification of transactions without the need for third-party intervention. Since each interaction is public, blockchain technology offers a reliable, incorruptible transaction-based infrastructure and the value it provides isn’t just limited to cryptocurrency.To read this article in full, please click here
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