Blockchain is a shared transaction of recording and tracking assets. It is an open distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
BLOCK
Block is a data structure inside a database, records recent transactions that are hashed and encrypted in the network. Block records permanent data, that is written and cannot be altered or removed in the network.
TECHNOLOGY MINING
Technology mining is also called tech mining refers to applying text mining methods for technical documents. Tech mining works on different applications including portfolio selection, project initiation, new product development, and technology road-mapping.
TYPES OF BLOCKCHAIN NETWORK
There are four types of structure in the development network.
- PUBLIC
A public has the access to allow anyone to join and completely decentralize, anyone can send transactions to the validator with no access restrictions.
- PRIVATE
The private is referred to as permissioned blockchain. A private blockchain is restricted, anyone can not join it unless it is not invited by the administration.
- HYBRID
A hybrid is an eccentric type of blockchain, that is a combination of centralized and decentralized features emerging both component factor public and private.
- CONSORTIUM
A consortium is also called the federated blockchain. It is just like a hybrid blockchain involving both public and private features but different with multiple organization members to cooperate on a decentralized network.
CRYPTOCURRENCY
It is a digital asset that works as a medium of exchange in block development technology. It works in the form of a computerized database using strong cryptography to secure transaction records to control the additional coins or transfer of coins ownership.
TYPES OF CRYPTO CURRENCY
- Bitcoin (BTS)
- Lite coin (LTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin cash
- Ethereum classic
- Z cash (ZEC)
- Stellar lumen (XML)
- Bitcoin satoshi’s vision (Bitcoin SV)
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