BlockChains: Technology that’s taking over the world BIT by BIT

How Blockchain is becoming a pinnacle of the Fintech Revolution

When I first sat down to write this article and tell you all about Block chains and how they work, I thought I’ll create a synopsis of the concept, its applicability and much more. But the topic has come across to be so vast and fascinating that a mere thousand words cannot suffice it. So I’ve tried to explain it in the most basic terms to give you a basic idea about what it is, how it functions and where it is currently being applied (We all know about Bitcoins, but there is so much more that this revolutionary concept can do. )

It all started back in 2009, when Satoshi Nakamoto published the paper “Bitcoin: A Peer-to-Peer Electronic Cash System” and brought Bitcoins and Block chains to the spotlight. It is renowned by many as “the biggest technological innovation since the internet”. Since then, Bitcoins and blockchain technology have both exploded with each Bitcoin now being equal to 169553.21 Indian Rupee (As on 20th July 2017) and the Block Chain industry seeing funding of over 1 Billion dollars from investors.

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So we now come to the most fundamental question, what is BlockChain? Continue reading “BlockChains: Technology that’s taking over the world BIT by BIT”