BLockchain Development by Dunitech
In recent past, “blockchain” has been a quite popular word among all the developers and businesses. Mostly used to streamline operations, ensure security and safety and improve visibility of a brand. We, at Dunitech, wish to resolve all your queries related to blockchain development.
It is the process of creating shared, unalterable, distributed ledger technology (DLT) which securely records and assesses transactions and tracks all the assets, physical ( money or real estate) or non-physical (copyrights), within assigned network. Recently, it has benefited a lot of industry sectors because of how aptly, quickly, precisely and securely it enables data sharing. In tracking orders, accounts, payments, production or any form of data, blockchain network offers transparency. Our experts understand every bit of this concept and know how to get this in effective use for businesses and startups.
A blockchain is an unmovable, digital ledger that uses cryptography to record transactions and track assets, both tangible and intangible, among a distributed, peer-to-peer computer or network. Those transactions, known as blocks, are then recorded, copied, and stored on each server, called a node, that’s linked to the network.
Unlike traditional databases which store records in a centralised fashion (i.e., records are stored at a single location), a blockchain is essentially a decentralised database which multiple participants manage; its DLT provides each node in the network with its own copy of the ledger. (Anyone here can volunteer their server to be a node in the network.) If there’s inconsistency in any record, the advanced setup can identify it by verifying it against the other participants' copies of the record. This capability makes records in a blockchain virtually tamperproof and safe.
Blockchain's real-time updates provide a single source of truest of information for all the members who access it, meaning every detail is crucial and reliable.