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Title: Your info-pill before walking down the blockchain

Related Keywords: blockchain technology, blockchains, blockchaining, bitcoins

DECODING THE BUZZWORD: BLOCKCHAIN TECHNOLOGY

The world has lately realized the unexplored potential of blockchain technology. If we turn the
first leaf of this epic, its not hard to understand that block chaining is a trending technology
very closely chained with bitcoins. As the Wall Street, banks, related organizations and even
the tech giants have been largely ranting about the phenomenal rise of this technology; Aalpha
digs deeper on your behalf and tries to put up the gist of the in-fashion technology.
And as mentioned earlier, block chaining and bitcoins are two very closely related concepts,
you (as a tech savvy or an entrepreneur, may be) should have a clear chalk out of both in your
mind. Helping you make your first giant strides towards the blockchain technology, we would
take you towards the related arena of bitcoins and then the actual blockchain technology.

Bitcoins
Before the times of currency (cash), there was barter system and then the civilized world moved
towards generalizing it with currency notes and coins. The existence of currencies came into
existence and had the implications and benefits of themselves. With advancements, as the
world is transforming itself from the unlit earth to a global village, our habitat is turning
digital. In such a scenario, it is almost inevitable to prevent the technology digitize money and
hence how you use it. That is exactly where the new concept of bitcoins arise. Bitcoin is the
name of an entity-to-entity electronic cash flow system. This if well adapted, can help the
world go cashless and use this electronic form of currency for payments without trusted
intermediaries while transacting between organizations and about other commercial affairs.
This is the foundation as well as the working playground for the technology of blockchains.

The Real Need for Blockchaining

Suppose there was a transaction between two entities having a certain type of contract among
themselves. And the consideration (give and take in laymans language) of this contract was
supposed to be in terms of a definite number of transacted bitcoins. With numerous such
transactions that take place, they make bitcoins the public ledger. Slowly, transactions gaining
paramount importance quantity and the genuineness of what revolves around them arises an
obvious need for maintaining a digital copy of these transactions. With the numerous nodes
working independently in this larger system, bitcoin transactions might well be documented
and maintained within a particular database or a data structure. But maintaining uniformity and
compliance among all those nodes is again a serious challenge for the techies. And solving this
problem is what blockchaining is all about. Yes, maintaining a sync and agreement among
transactions be it in terms of bitcoins (being situation specific), any other real-time systems,
databases or even simple updating of information is the gist of blockchaining.
Anything that works in a hierarchal decentralized system has major operational units as
transactions can make use of the blockchain in technology. This helps the administrator to
SEO META-DATA
Title: Your info-pill before walking down the blockchain
Related Keywords: blockchain technology, blockchains, blockchaining, bitcoins
maintain decent uniformity in the data with consistent and reliable time stamping of the
operations taking place throughout the blockchain.
The Unheard term: Ethereum
To keep it simple, it can be described as the global, main centralized computing platform on
the blockchain laid all over the real-time system. This focuses on providing the user to be the
decentralized mother computing platform for all the transactions initiated at any hierarchical
level.

The Main Challenge with Blockchain Technology

Scaling Issues: The Counter Concept for Cloud Computing

The world has been enjoying this technology at maintaining up-to-date copies of the database
at several nodes and maintaining a full compliance among frequently transacted systems.
But there seems to be a catch.
While adapting to any technology, the catalogue explained pros and cons might sound fancy
might even create an illusion of complete you knowing it all. Any technology once adapted
behaves very differently from what it sounds from the mouths of industry experts and is read
over informative blogs. And blockchaining is different to none.
Around two decades ago, when the world was left stun by the primary concept of cloud
computing, it practised client-server architecture where the server maintained a database which
was concurrently accessed by several nodes. This made the road for scaling smoother and
sustainable. One could easily think of increasing the number of nodes in a particular cloud
system and take care of the scaling issues efficiently. Blockchaining, if seen at the grassroots
level, is exactly reverse of the former. Where there was a single mother copy of the database
of the system maintained and accessed at several nodes, but here blockchaining looks to
maintain several distinct copies for transaction compliance and up to date status of the system
at each and every node. This might sound simple, but makes the major challenge while laying
down blockchains for implementing any real-time system.
Hope this turns out to be of real benefit to you helps you catch up with higher endeavours at
blockchaining.

Adios.

#Aalpha