The very mention of the
word 'blockchain' immediately conjures up memories of the term called
decentralization. Although it might be a simple word taken out of the
English dictionary, this attribute of the blockchain makes it stand out
from any other new technology that made its entry in the recent past.
It means that the power to exert complete control over the entire
ecosystem of the blockchain does not lie with any single entity but is
distributed across multiple entities that form the blockchain. These
entities that represent the components of the blockchain are called
blocks or nodes. The consistency of data across every node that forms
the blockchain needs to be assured. Should there be any inconsistency in
the data, that particular change is not approved?
This amazing technology
makes blockchain an epitome of security. A person who wants to
maliciously access data or modify data should have access to the entire
blockchain at the same time, and it seems quite unlikely.
What if this principle of decentralization can be used to build
applications period? These applications are commonly called
decentralized applications and are commonly abbreviated as d'apps.
Read more at: https://yourstory.com/mystory/decentralized-apps-learn-build-one
Read more at: https://yourstory.com/mystory/decentralized-apps-learn-build-one