What Are The Three Pillars Of Blockchain Technology?
by Blockchain council Blockchain certificationsBlockchain is undeniably an ingenious invention. The technology that formed the framework for Bitcoin has evolved in the last decade and emerged as a mainstream technology. It has the potential to impact different business segments and also pave the way for new developments. Whether, finance, healthcare or real estate sector, you name the business domain and blockchain platforms find application in every field. The proliferation of Blockchain technology is so much so that it has also emerged as a popular career option; the demand for Blockchain certification and Blockchain online training program has increased.
What makes us think is what is that thing that is making
Blockchain and inevitable technology of the future. What forms the core of this
technology? Well, we will be exploring the same in this blog.
Three pillars of
Blockchain Technology: Blockchain Trilemma
Every technology is based on some structural framework
which becomes its key attributes. Similarly, for Blockchain, there are some
underpinnings that make it such a dynamic and useful technology. But before
going ahead, it becomes important to understand what is Blockchain Trilemma.
This concept was brought forth by Vitalik Buterin (founder of Ethereum).
Blockchain Trilemma involves three basic concepts:
1. Security
2. Scalability
3. Decentralization
Security- One of the biggest concerns surrounding
cryptocurrency is security. Individuals using Blockchain platform are assured
of security because of data encryption. Use of crypto wallets is one such
technique that guaranteed security of your digital assets.
Scalability- Blockchain can build while keeping up the seamless
functioning of other tasks. The system must be ready to handle the volume of
transactions or exchange every second.
Decentralization- This is one of the key features of Blockchain
technology wherein there is no intervention by administering authority. There
is no central hub, the system works independently, and the two parties interact
with each other without sharing the revenue or commission with the third party.
Besides, the lack of centralization makes the data readily available at any
point in time.
These three pillars form the core of Blockchain technology. While you are pursuing Blockchain online training, you will become a Blockchain Expert, who understands the working ofBlockchain and the fact that the trilemma is what makes this technology so important.
These key features of Blockchain technology make it one
of the most trusted technology. All the Blockchain platforms offer these
feature which is helpful for ensuring seamless business operations.
How do we help?
Blockchain Council is a renowned platform offering
online Blockchain certification programs. This exhaustive training program
includes all the details about Blockchain technology and its use cases. Any
Blockchain online training program is incomplete if it does entail practical
applications of the same. This unique Blockchain certification program curated
by professionals at Blockchain Council will offer you comprehensive learning.
It will help in boosting your career.
Blockchain technology is going to become the strongest
underpinning of many industries. It will help in making the technology as the
hottest skills and having a Blockchain certification will increase your
prospects of growth.
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Created on Apr 22nd 2020 23:36. Viewed 390 times.