What is blockchain ?
Blockchain is a type of database which stores the data within blocks and chains them together to extract useful information. Every block of information in the Blockchain is connected. If new data comes, it is stored in a new block, which gets filled with data. The latest block gets attached to the previous block. The blockchain database system is decentralized so that anyone can access it. Blockchain is the right choice for the bitcoin system, where each transaction gets recorded and visible to everyone.
Blockchain Use cases
Blockchain is an overall database system nowadays, and here are some blockchain use cases categorized under several industries.
- SmartContract : Blockchain creates an agreement between two or more parties without any intermediary. This contract gets distributed among the blockchain network.
BurstIQ (Healthcare) : This uses a big-data-based smart contract shared between doctors and patients.
Propy (real estate) : Propy is a real estate platform that uses a Blockchain-based registry system.
- Internet of Things (IOT) : The Internet of Things has to face problems like data breaches and data hacking. So by implementing a blockchain database system, these problems get reduced upto a great extent.
Hyper (IOT/Cybersecurity) : HYPR takes cybersecurity to the next level; it connects smartphones with FIDO tokens. It makes authentication passwordless using fingerprint verification.
Xage (IOT/Cybersecurity) : Xage is India's first blockchain-based cybersecurity platform; Xage can handle billions of devices simultaneously.