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A blockchain or distributed ledger technology (DLT) is a digital ledger or database where encrypted blocks of digital asset data are stored and chained together. These digital assets are decentralized, allowing for real-time accessibility, transparency, and governance amongst multiple parties.

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Why do you need Blockchain?

Blockchain is an especially promising and revolutionary technology that can reduce security risks, stamp out fraud and bring transparency in a scalable way.

A database usually structures its data into tables, whereas a blockchain, structures its data into chunks (blocks) that are strung together. This data structure inherently makes an irreversible timeline of data when implemented in a decentralized nature.

Each block in the chain is given an exact timestamp when it is added to the chain. These blockchains are immutable, which means that the data entered is irreversible and are permanently recorded and viewable to anyone.

What are the Benefits ?

The goal of blockchain is to facilitate digital information to be recorded and distributed but not edited. Therefore, a blockchain is a foundation for immutable records of transactions that cannot be altered, deleted, or destroyed. Here are some more benefits of blockchain:

With blockchain, an organization can go for a fully decentralized network where there is no need for a centralized authority, improving the system’s transparency.

Improved Security

Blockchain ledgers are public and constructed with inherent security measures, making them ideal for every business.


As blockchain has no inherited centralized player, there is no need for any vendor costs.


It provides a single place to store transactions and also eradicates human-based errors with the help of automation, thus making the processes highly efficient and fast.

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Frequently asked questions

A blockchain is a decentralized, distributed, and public digital ledger that is used to record transactions across many computers. The records in the blocks cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.

It increases trust, security, transparency, and the traceability of data shared across a business network.

Each new block connects to all the blocks before it in a cryptographic chain. Hence it is almost impossible to manipulate or tamper with the data.  And all transactions within the blocks are validated and agreed upon by a consensus mechanism, ensuring that each transaction is true and correct.

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