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That is to say that it is not hosted by a single server but by all users of the network  gives these users the advantage of verifying the validity of the chain themselves The exchanges carried out between users are grouped by blocks Each block is verified and protected by network nodes called miners using cryptographic processes which ensure its validity and security Once validated the block is dated and added to the blockchain The transaction then becomes visible to the receiver and all network user.

What are the prospects for blockchain technology Although the blockchain appeared with wedding photo editing service  the digital currency bitcoin today many players are considering its use for areas of activity other than that of cryptocurrency The decentralized nature of the blockchain coupled with its security and transparency promises much broader applications than the monetary field banks insurance health and pharmaceutical industry energy real estate Blockchain also brings a very interesting technology for chains supply of many sectors such as agri food luxury international trade distribution wine aer.



The advantages are obvious blockchain technology is secure so smart contracts can be more secure than traditional contract law Additionally they can reduce a number of transaction costs associated with outsourcing because blockchain technology eliminates middlemen But beware The fact remains that the quality of the result depends on the quality of the input Smart contracts are by no means magical constructs that understand user intent and are always flawless If there is an oversight in the text the result could be even more dramatic.