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Security is definitely a concern for everyone when it comes to transactions.. So where does blockchain stand when it comes to security?? Find out... How secure is Blockchain? To know how secure blockchain is, recall the process of money transfer via a bank. (To know more about blockchain read this blog ).. You go to a bank, tell them you want to make a money transfer, give them your account details and the receivers details, the bank saves all these details and makes the transfer. Sounds easy, right? But this process can tamper – can be altered and that too very easily. Here’s where Blockchain comes into play . It’s decentralized, secure, and transparent (i.e., the data is available publicly) way of money transfer. You might now be thinking that since the transaction data is available publicly it might have some safety issues. Like a hacker can hack this data and alter it. What will happen then? Let’s try to visualize what will happen if someone attempts to alter t...

Before discussing blockchain, you should be familiar with the concept of cryptocurrencies... In the past few years, we all heard about cryptocurrencies, especially after we witnessed the rise of Bitcoin. So, what is a cryptocurrency? Cryptocurrency a digital currency that was specifically designed to work as a secure medium of exchange, since it uses strong encryption techniques , thus ensuring secure financial transactions . Bitcoin, one such cryptocurrency, is regulated by a network of computers through encryption techniques. Although its production is independent of any bank or state, it’s the technology it uses that has increased trust in it. What about the Bitcoin transactions? How are we going to validate them? Enter Blockchain!! What is Blockchain? Blockchain first came into existence to keep a track of the bitcoin transactions. It is a highly restricted database whose entries are the bitcoin transactions. The blockchain operates as a digital ledger of transa...