What are the fundamental principles of blockchain technology, and how is it being utilized beyond cryptocurrency?
Bluetooth technology allows wireless transmission over short distances. It enables devices like smartphones, laptops, headphones, and other peripherals to connect and exchange data without the need for cables. Bluetooth is commonly used for wireless communication within a range of about 10 meters (3Read more
Bluetooth technology allows wireless transmission over short distances. It enables devices like smartphones, laptops, headphones, and other peripherals to connect and exchange data without the need for cables. Bluetooth is commonly used for wireless communication within a range of about 10 meters (33 feet), though some devices may support longer ranges.
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Fundamental Principles of Blockchain Technology: 1. Decentralization : Blockchain operates on a network of nodes, eliminating the need for a central authority. 2. Immutability : Data, once recorded, cannot be altered, ensuring data integrity. 3. Transparency : Transactions are recorded on a public lRead more
Fundamental Principles of Blockchain Technology:
1. Decentralization : Blockchain operates on a network of nodes, eliminating the need for a central authority.
2. Immutability : Data, once recorded, cannot be altered, ensuring data integrity.
3. Transparency : Transactions are recorded on a public ledger, visible to all participants.
4. Security : Cryptographic techniques secure data and transactions.
5. Consensus Mechanisms : Networks use mechanisms like Proof of Work (PoW) or Proof of Stake (PoS) to validate transactions.
Utilization Beyond Cryptocurrency:
1. Supply Chain Management : Enhances traceability and transparency, preventing counterfeiting.
See less2. Healthcare : Manages medical records securely, ensuring patient privacy.
3. Smart Contracts : Automates contract execution, reducing the need for intermediaries.
4. Voting Systems : Creates secure, transparent voting platforms, reducing fraud.
5. Intellectual Property Management : Protects and manages intellectual property rights, ensuring fair compensation for creators.