CTO 101 — S02: Blockchain — Chap01: Introdution
If you are following tech news you are definitely have got bombarded with the block-chain articles. But what are all these hypes about and why every industry is rushing to examine this technology? Blockchain with no doubt is the most disruptive technology of recent years and I believe it’s mandatory for every technical leader to know its capabilities. As well Blockchain is the infrastructure behind bitcoin and many other cryptocurrencies but at this post, we focus on blockchain and I cover the rest in upcoming posts.
Simply saying blockchain is a chain of blocks. A block is composed of version, time, transactions Merkle tree hash and a hash pointer to the previous block which enables this connectivity. This list will continue to grow and blocks will be added to the end of the chain. There is a robust peer to peer mechanism for validating new blocks on blockchain which makes the protocol completely secure without any centralized ledger.
A decentralized ledger is a breakthrough technology and it has enormous potentials in lots of industry verticals which they are to be discovered. But some industries such as Financial Services, Supply Chain Management which are controlled by giants will be massively democratized. In addition, I believe Networking, IoT, renting or any sorts of exchange services will be affected as well.
There are some cool videos explaining blockchain that may ease down comprehension of the concept, however, if technically the concept seems confusing don’t be worried, it is a complicated subject and needs quite a lot of studies to get used to.
Blockchain by CNBC:
Another Cool Explanation:
IBM explains blockchain:
A must watch about Blockchain
Finally a more comprehensive video and my personal favorite:
and here are some good podcasts about crypto-currencies and blockchain:
Unchained(by Forbes): website
We still have to wait to see if the blockchain will be the most disruptive technology of the decade. Anyhow it is necessary for any technical leader to have a good understanding of what it does, maybe your industry is gonna be revolutionized by it so don’t act late.
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