All around the world there is a buzz about block-chain technology. In this article we will explain how block chain technology and work and also provide information on new products that have been launched built on this technology.
What is Blockchain ?
It is a digital ledger of financial transactions that is configured to save a record of all financial information. In a block chain, information is stored in shared networks between multiple computers. Since it is not stored in a single location it becomes easy to verify and access all the transactions.
Block chain technology was first used by the Bitcoin currency and gained popularity with the success of the crypto-currency. Block-chain is a form of decentralised technology that makes it easy to verify financial transactions. Some analysts believe that block chain could deliver savings of close to US$ 10 billion if used in the securities and settlement markets.
In the coming years, block chain will be implemented to create smart contracts, distributed accounting ledgers, auditing of supply chains and information storage. Given below are eleven block chain companies that have recently launched products for the European market.
Quanta – www.quanta.im
Blockchain – appliedblockchain.com
Block.one – block.one
EOS – eos.io
BitVault – swissbankinyourpocket.com
Aureus – aureus.cc
BrickCoin – brickcoin.ch
Deus Coin – deuscoin.org
Populous – populous.co
Tradle – tradle.io
Monetago – monetago.com
For a more comprehensive explanation of block chain technology you can view the video below: