Industry Trend Research: Blockchain Technological Inventions

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Blockchain
Technological inventions are growing at a faster rate now more than ever. This is especially the case when it comes to internet and its application in the general areas of life and even in the more specific areas such as digital assets. One of the most recent developments in this field is the blockchain. It is currently the world’s leading software platform in the field of digital assets, building a better and reliable financial system (Blockgeeks Inc).
It is undeniably one of the most ingenious inventions and can be attributed to a group of persons known by the pseudonym Satoshi Nakamoto (Blockgeeks Inc). Since then it has come through the paces to develop into greater technology. It allows digital information to be distributed but not copied creating the backbone of a new internet. The list of records are growing called blocks and they are secured through cryptography. Each of the block has a hash pointer that links to the previous block and has a time stamp along with transactional data. They are designed in such a way that, they are resistant to modifications of the data within. They are able to record data and distribute the same in a manner that is permanent and highly verifiable way (Blockgeeks Inc). Where they are distributed as a ledger they blocks are managed within a peer to peer network and they collectively adhere to the protocol of validating new blocks. Once the data is recorded it then becomes impossible to alter the same retroactively without having to chance the all the blocks in the subsequent chain. This means that there has to be a collusion of a majority on the network.
Of interest is the fact that, other than finan...