An Introduction to the Blockchain Technology for the Beginners

These days, technology is scaling newer heights of success at an unbelievably fast pace. One of the latest triumphs in this direction is the evolution of the Blockchain technology. The new technology has greatly influenced the finance sector. In fact, it was initially developed for Bitcoin – the digital currency. But now, it finds its application in a number of other things as well.

Coming across this far was probably easy. But, one is yet to know what is Blockchain?

A distributed database

Imagine an electronic spreadsheet, which is copied umpteen number of times across a computer network. Now, imagine the computer network is designed so smartly that it regularly updates the spreadsheet on its own. This is a broad overview of the Blockchain. Blockchain holds information as a shared database. Moreover, this database gets reconciled continuously.

This approach has its own benefits. It does not allow the database to be stored at any single location. The records in it possess genuine public attribute and can be verified very easily. As there’s no centralised version of the records, unauthorised users have no means to manipulate with and corrupt the data. The Blockchain distributed database is simultaneously hosted by millions of computers, making the data easily accessible to almost anyone across the virtual web.

To make the concept or the technology clearer, it is a good idea to discuss the Google Docs analogy.

Google Docs analogy for Blockchain

After the advent of the eMail, the conventional way of sharing documents is to send a Microsoft Word doc as attachment to a recipient or recipients. The recipients will take their sweet time to go through it, before they send back the revised copy. In this approach, one needs to wait till receiving the return copy to see the changes made to the document. This happens because the sender is locked out from making corrections till the recipient is done with the editing and sends the document back. Contemporary databases do not allow two owners access the same record at the same time. This is how banks maintain balances of their clients or account-holders.

In contrast to the set practice, Google docs allow both the parties to access the same document at the same time. Moreover, it also allows to view a single version of the document to both of them simultaneously. Just like a shared ledger, the Google Docs also acts as a shared document. The distributed part only becomes relevant when the sharing involves multiple users. The Blockchain technology is, in a way, an extension of this concept. However, it is important to point out here that the Blockchain is not meant to share documents. Rather, it is just an analogy, which will help to have clear-cut idea about this cutting-edge technology.

Salient Blockchain features

Blockchain stores blocks of information across the network, that are identical. By virtue of this feature:

The data or information cannot be controlled by any single, particular entity.
There can’t be no single failure point either.
The data is hold in a public network, which ensures absolute transparency in the overall procedure.
The data stored in it cannot be corrupted.

Demand for Blockchain developers

As stated earlier, Blockchain technology has a very high application in the world of finance and banking. According to the World Bank, more than US$ 430 billion money transfers were sent through it only in 2015. Thus, Blockchain developers have significant demand in the market.

The Blockchain eliminates the payoff of the middlemen in such monetary transactions. It was the invention of the GUI (Graphical User Interface), which facilitated the common man to access computers in form of desktops. Similarly, the wallet application is the most common GUI for the Blockchain technology. Users make use of the wallet to buy things they want using Bitcoin or any other cryptocurrency.

How Good Are Fiber Optic Cables?

Fiber optic cable versus wire transmission differences boil down to the quickness of photons versus the speed of electrons. While fiber optic cables do not travel around at the velocity of light, they are very close- just about 31 percent slower. Here are more benefits.

Security

Would it be that hackers can access business cable with relative ease, because of cable tapping or various other simple methodologies? The only method to penetrate fiber-optic is to cut the fibers physically, that may cause the transmission to disappear. Fiber-optic cable is one of the powerful methods to improve your company’s safety against cyber criminal offenses.

Fiber Optic Transmission Has Low Attenuation

When traveling in a long range, fibers optic cables encounter less signal damage than copper cables. That is known as low attenuation. Copper connections can merely transmit information up to 9,328 ft due to power decline, whereas fiber cables can travel and between 984.2 ft to 24.8 miles.

HD Video Support

For a lot of companies, training video and teleconferencing are essential tools for employee training, advertising, and product sales. With a fiber-optic system, many companies can easily boost their investment in video conferencing as one of the best long lasting business tool without sacrificing bandwidth. Research indicates that more investment in video conferencing saves companies thousands every year and even month, especially if you can cut out too much business travel.

Resistance to Disturbance

Copper cable is usually delicate to electromagnetic interference, which may be due to the closeness of weighty equipment. PMMA Fiber cables do not degrade because of electromagnetic interference. If your company shares a telecoms space with other businesses, fiber-optic can easily protect your connection from disappearing if the other organizations are employing equipment that can hinder your interconnection in the same space.

Fiber Cables Are Resistant To Electromagnetic Intrusion

Copper wires, if not installed properly, will create electromagnetic currents that may hinder other cables and wreak the system on the network. Fiber cables, unlike real other cables, usually do have electromagnetic currents.

Symmetric Speed

Symmetric speed is a term utilized to refer to same upload and down load rates on a connection. With fiber cable connection, your employees can reap the benefits of same upload and download speed.

Is symmetric speed necessary? It’s definitely not critical for business procedures, but it’s helpful. Improvements in symmetrical speed are advancements that reflect how networks are used. Today’s employees can upload online video content, files, or make calls as when they work unlike what people used to do decades ago. Symmetric speed allows users to accommodate heavy demands on uploads and downloads simultaneously via their data connection.

Fire Safe

An additional advantage of PMMA fiber optic cables is they are not really a fire risk. This can also be related to the same reason the cables do not make EM.

Fiber Cables usually do not break easily

This implies that you shall not have to worry about replacing them as frequently as copper cables. Though the fiber is made from glass, copper wires are more susceptible to damage than fiber cables are.