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Blockchain the future of money transaction

Today I am back with new topic so learn about it.

Reserve bank banned the transaction of Bitcoin and say the he use the technology of Block chain to transfer of money but the main question is that what is in the Block chain why all the government are ready to accept the technology of Block chain in the simple words the transaction of money one to another account is being fast, simple and secure.

HOW BLOCK CHAIN WORKS ?

Block chain is the alternate this technology is not in control in any bank or INDIVISUALLY and this is the centralized conduct, in this technology transaction prosperous among two people in this technology money transfer very fast those people using Block chain who knows very well and it's free off cost and it can't be hacked simply so your info will be secure in Block chain.

WORKS LIKE OPEN LAZOR

In the Block chain there is a OPEN LAZOR  concept. You know that all bank have a ledger and record all the transaction and they are limited to bank staff but in the OPEN LAZOR system anybody can see the recent transaction among person but they can't see how much money send among that people and they we called OPEN LAZOR and one more thing in the world millions of computers are run for the Block chain and they we knows as Node and as you know all the transaction are stored in the nodes for the security the ledger stored in the Node will be synchronized and will be updated in every ten minutes so for hackers this is very hard to hack the Block chain system.

WHAT IS THE ROLE OF BANK IN BLOCK CHAIN

What bank do the bank accomplished your money transfer the same work do on the international stage whose we talk about past the LAZOR technique this will make the block and they interconnect with our past and present transaction and if someone try to see still your data system will inform your right now and they encrypt your data more securely and you are now secured so that's why the Block chain system is so secure than other.

WHERE WE CAN USE THE  BLOCK CHAIN

For information technology, data management, police records, banking Information and many more.

This is the open system so you can't imagine how many Nodes are run for Block chain if hacker hack more than one hundred computer hacker can't still the all Block chain system data if hacker have to hack full Block chain system then hacker have to hack more than half Node runs in  all over the world  so I think you learn all about the Block chain and how it's work.

THANKS FRIENDS TO READ MY ARTICLE

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