What Are The Three Pillars Of Blockchain Technology?

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 Blockchain 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 104 times.


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