Blockchain is a digital ledger that provides a secure way of making and recording transactions, agreements and contracts – anything that needs to be recorded and verified as having taken place.

4 Principles Of Blockchains Networks

Breaking Down the Blockchain

Distributed: Across all the peers participating in the network. Blockchain is decentralized, and every computer (full node) has a copy of the blockchain.

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Public: The actors in a blockchain transaction are hidden, but everyone can see all transactions.

02

Time-stamped: The dates and times of all transactions are recorded in plain view.

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04Persistent: Because of consensus and the digital record, blockchain transactions can not catch fire, be misplaced or get damaged by water.

The global Blockchain Technology market will grow with a compound annual growth rate of

54.5% over the period of 2017 - 2023.

$10 trillion of the global GDP will be on Blockchain by 2030, and that makes it

10% of the global GDP.

countries and organizations, such as the European Commission, are working on developing the Block-chain ISO Standard, and the timeline is to have a published Standard in 2020.

40 According to the 2017 “PitchBook Fintech Analyst Note: Blockchain,”

$4.5 billion has been invested in blockchain startups in 2017 alone.

The business value-add of block-chain is expected to grow from$176 billion - $3.1 trillion by 2030, according to Gartner.

2025 2030

4 Benefits Of Blockchain Technology As Specified By Forbes Are:

As a public ledger system, blockchain records and validate

each and every transaction made, which makes it secure and reliable.

All the transactions made are authorized by miners, which makes

the transactions immutable and prevent it from the threat of

hacking.

Blockchain technology discards the need of any third-party or central

authority for peer-to-peer transactions.

Decentralization of the technology.

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Source:

https://letstalkpayments.com/an-overview-of-blockchain-technology/

https://yourstory.com/2017/11/blockchain-bengaluru-tech-summit/

https://www.cio.com/article/3112773/it-industry/if-i-only-had-5-minutes-to-explain-blockchain.html

https://files.pitchbook.com/website/files/pdf/PitchBook_3Q_2017_Fintech_Analyst_Note_Blockchain_ICOs.pdf

https://www.techrepublic.com/article/4-industries-that-are-making-the-best-use-of-blockchain-technology/

http://www.nasdaq.com/article/quant-network-launches-overledger-for-cross-blockchain-data-interoperability-cm888495

https://www.prnewswire.com/news-releases/the-global-block-chain-technology-market-is-expected-to-grow-with-a-cagr-of-545-over-the-period-of-2017---2023-300564788.html

https://www.theguardian.com/global-development-professionals-network/2017/jan/17/blockchain-digital-technology-development-money

The principles of blockchains networks are from Cio.com, www.cio.com/article/3112773/it-industry/if-i-only-had-5-minutes-to-explain-blockchain.html