Blockchain training in chennai

1. The importance of Blockchain technology in India-an insight Going by current trends and mounting popularity, we can say that the future of blockchain will be amazing in India. This can be strengthened by the fact that more and more compannies and individuals are gaining interest in this emerging technology which is billed as the next big thing after the internet. What makes blockchain technology revolutionary? Now you will question: What more is the big deal about it? How does it differ from Bitcoin and Ethereum? Why the government, technology biggies and even startups hurrying to explore blockchain applications? Well, blockchain is an interesting concept and it has the ability to let the safe movement of assets, withtout the requirement of intermediaries. What is blockchain technology? Blockchains are same as spreadsheets that is duplicated several times across a netowork of computers. The network is framed to constantly update this spreadsheet and this makes the data conveniently accessible to everyone who is working on the Internet. There is no single location in which the blockchain database is stored and this makes it a difficult task for the hacker to corrupt the details.  Blockchain is a technology wherein data once saved cannot be tampered with or removed. It has no specific point of failure and is saved on several nodes over the network. Here, no single person has total control on it. Blockchain applies advanced algorithms which drastically decreases the dependence on individuals to verify all sorts of transactions. Being an anonymous online ledger, it makes easy the way we transact. Blockchain uses a safe networking system that safeguards the identity of its users. Eventually, it makes the transactions highly secured.   How is blockchain developing in India? We are still in the beginning stage of blockchain development in India. This is the right point for a progressive country as India to pay diligent attention and capitalize on the various opportunities of Blockchain. Sectors including financial services, healthcare, agriculture, real estate etc.which all are important for a developing economy like India can indeed gain from the application of blockchain. Blockchain applications

2. A common misconception is that blockchain technology’s application is limited only to the domain of financial sector. However, there are also other fields that make use of blockchain:        Banking Sector Insurance Sectors Media and Entertainment Sector Financial Institutes Healthcare and Life science sector Government and Public Sector Automotive Sector Now, Indian businesses should realize the significance of blockchain the banking system, specificially to control frauds. Top features of Blockchain  Blockchain is cost-effective as there are no intermediaries and there is cuttind down of cost of maintenance. It offers high-end data as well as transaction security and is more dependable in relation to other types of data storage. The chance of changing the records in the blockchain is impossible and this removes the chances of data manipulation. Transactions can be traced and are highly transparent thereby decreasing the risk of frauds. Processing cross-border transactions becomes easy and saves lot of time.     It is essential that India leverage its resources so as to advance in technology. Blockchain is a solution to some of the greatest challenges encountered by India and its time that we adopt it.