What is the purpose of Blockchain Technology

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What is the purpose of Blockchain Technology?

Jul 18, 2018 in Blockchain by whatsinname
 • 280 points • 1,601 views

1 answer to this question.

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The purpose of Blockchain technology is to create a distributed database network to store confidential data (especially ledgers, transactions, agreements) which can not be altered once it is stored in the blockchain. The data is verified and validated by the nodes in the network and so it is almost impossible for a malicious node to misuse the data.


Some of the Blockchain technology applications are:

  • Cryptocurrencies
  • IoT
  • Healthcare
  • Digital Identity
answered Jul 23, 2018 by Omkar
 • 69,220 points

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