The Idea Behind Blockchain Technology
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The Idea Behind Blockchain Technology
Necessity is the mother of invention and so is true with the technology. There have 
been a series of developments in this field, and one of the most transformational 
ones has been tat of Blockchain technology. It all started in the year 2009 when 
Satoshi Nakamoto introduced the concept of Bitcoin. At that time, Blockchain 
formed the underlying framework of Bitcoin exchange. However, over a period of 
time, Blockchain emerged as a popular technology itself. 
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What Led To The Development Of Blockchain 
Technology?
Before heading forth to understand what actually led to the rise of Blockchain 
technology, we need to understand what led o the rise of the same. Necessity is 
the mother of invention; increasing reliance on digital forums for transactions and 
information exchange leaves a lot of data to lie astray in the virtual world. It makes 
the data vulnerable and prone to attack. All this gave rise to cybersecurity issues, 
delayed transactions, and vulnerabilities of data. So, what is the way out? Well, 
Blockchain paved the way for new developments. You can find so many use 
cases of the same. 
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How Does Blockchain Address The Of 
Conventional Technology?
1. Peer-to-peer network- One of the key challenges of the conventional 
technological platform is that it is highly vulnerable and is governed by a third 
party. You can take the example of any of the platforms; everything is 
governed by a third-party. This often leads to increased cost and delayed 
execution. On the contrary, Blockchain works differently. It works on P2P 
interaction, which means there is no third-party intervention. By nullifying the 
presence of third-party, it becomes easier for the interested parties to interact 
with each other directly and complete the transaction or exchange.
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2.     Decentralization- Data is the king, and loss of the same can be 
devastating. Most for the business strategies are now curated using the data 
assessment. But the conventional medium that we use is not only vulnerable and 
susceptible to attacks, but at the same time, there is also a probability of losing the 
data. A single point of failure can impact the entire functioning. But, with 
Blockchain technology, you don’t really have to worry about it. Blockchain offers 
decentralization; that is, the data is distributed across the network, which makes 
data easily accessible. The failure of the network or the system doesn’t impact the 
functioning. 
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3. Data Security- While the digital platforms do make transactions easier and 
faster, at the same time they pose a threat of losing the data, malicious attack 
which may lead to loss of data or hacking of data. With Blockchain technology, all 
these probabilities are nullified. Every data entered in the DLT platform is 
encrypted cryptographically, which makes data hacking becomes difficult. Thereby 
enhancing the security of data.
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With these advantages, Blockchain emerged as a powerful technology that soon 
started impacting different industries. It also gave rise to the demand for 
Blockchain professionals and Blockchain experts who can leverage the benefits of 
this technology for the betterment of the business.
 Blockchain Council is a leading platform offering certification courses in the field 
of Blockchain technology. If you also wish to make a career in Blockchain 
technology, then you must enrol for Blockchain certification at Blockchain Council.
 
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain 
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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THANK YOU!
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