For this blog post, I\'d like you to think about the audience you envision for y

Question

For this blog post, I'd like you to think about the audience you envision for your blog and address an informal report to them on either trends in the field (what's the news in positivity? make-up? accounting? health fields? young business people?) Do some research and see what's cutting edge-- what's trending. Write up a report to fill in your readers. What you're doing here is some research so that they don't have to, and then you're presenting that in an easily read, but not too simple, form. I envision this post to be about 400-600 words.

Explanation / Answer

The following post can be used for Blockchain technology which is a trending topic.

Blockchain technology is the latest buzz in the industry today. The blockchain is a continuously growing list of records, and public distributed ledger system, where each block has multiple transactions details associated with it. So every block has multiple transaction details as part of it, and new block gets created on a regular interval, all these blocks are interlinked and they form a chain therefore given a name Blockchain. The blockchain is the implementation of digital crypto-currency Bitcoin. Blockchain became the medium through which transaction, as well as management of Bitcoin, was introduced. Blockchain came into existence with the introduction of Bitcoin's whitepaper in October 2008. Currently, about 2050 transactions are added to every block So every transaction that you use a Bitcoin gets added to a transaction pull, from which people verify this transaction and added to a block, presently each block has closed to 2050 transactions. Blockchain technology has mainly four important features:

1. Peer to Peer Network

All Blockchains runs on distributed peer to peer network. A distributed peer to peer network means a ledger which holds all the details with respect to a transaction completely distributed across the peer to peer network. Here everyone whose part of the network has a complete copy of the transaction. So all transaction that takes place as a part of Blockchain system is completely available in this ledger.

2. Hash Encryption

The blockchain system uses an SHA-256 encryption methodology whereby even making a small change can make a huge difference with respect to hash world.

3. Proof of Work

Proof of Work is basically a mathematical proof where we have to solve a mathematical puzzle to create a new block. Now, this basically is done by people who are known as miners. They basically validate all transaction that is initiated in Blockchain system as well as for this mathematical puzzle. This mathematical puzzle or solution you get ensures two things. Firstly it ensures all the transaction that is part of this block is verified and valid transactions. Apart from this, it ensures that you have created a valid block because every block has a unique value.

4. Blockchain Program

A Blockchain Program in itself can be used to perform multiple operations. It can be used to create and implement rules in the Blockchain. One such example of Blockchain program is to store ID cards of all citizens for authentication during elections. Apart from this one of the most popular applications of Blockchain is Bitcoin system itself.

The benefits of blockchain technology are numerous. The technology ensures equal access to all the users and a countless number of eyes on the network so that the logged data cannot be accessed or modified by the hackers. Moreover, since it allows the users to do transactions without having any third party (e.g. bank) involvement, it reduces the transaction cost. Other advantages are faster transaction settlements, decentralization, and user-controlled network.

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