Blockchain Development Company - BlockTech Brew

WHY BUSINESSES NEED TO TAP ON
THE POWER OF BLOCKCHAIN
DEVELOPMENT

Presented by:
BLOCKTECH BREW

BLOCKTECHBREW.COM/

Gartner estimates that blockchain will generate $3.1 trillion in new business value by 2030. And
digital transformation will only fuel this welcome scenario of blockchain development.

A blockchain is a digital ledger of transactions that is duplicated & distributed across the entire
network of computer systems on the blockchain.

Every block in the chain contains several transactions. Each time a new transaction occurs on the
blockchain, a record of that transaction is added to every participant’s ledger.

The decentralized database managed by several participants is known as Distributed Ledger
Technology. Blockchain is a type of DLT wherein transactions are recorded with an immutable
cryptographic signature called a hash.

WHY BLOCKCHAIN?

Blockchain guarantees the fidelity & security of a record of data and generates trust without the intervention of a third
party.
How? When one block in one chain is changed, it would be immediately apparent it had been tampered with. So, to corrupt
a blockchain system, hackers would have to change every block in the chain. That too, across all of the distributed versions
of the chain.

WHAT IS THE DIFFERENCE BETWEEN DATABASE
AND BLOCKCHAIN?

A blockchain collects data together in groups – known as blocks – that hold sets of information. When the storage capacity
of a certain block is filled, it gets closed and linked to the previously filled block. This forms a chain of data known as the
blockchain. All new information is then compiled into another newly-formed block that is also added to the chain once
filled.

So, while a database structures its data into tables, a blockchain structures its data into blocks that are strung together. In
a decentralized setup, this structure makes for an irreversible timeline of data.

WHAT ARE THE BENEFITS OF BLOCKCHAIN
TECHNOLOGY?


Accuracy of the Chain



Transactions on the blockchain are approved by a network of thousands of computers. So, there is no human involvement in the

verification process.

Thus, there is no human error and the information recorded is accurate. And even if there is a computational mistake, the error would

only be made to one copy of the blockchain.

For that error to spread to the rest of the blockchain, it would need to be made by at least 51% of the network’s computers. This is a

near impossibility for such a large and growing network.

Cost Reductions

Typically, consumers pay a bank to verify a transaction. Blockchain eliminates the need for third-party verification. So, there are no
associated costs.

Decentralization

The information in a blockchain is not stored in a central location. It is instead spread across a network of computers. When a new
block is added to the blockchain, every computer on the network updates the change.
Thus, it becomes difficult to tamper with such data. Also, if a hacker still finds a way to do so, only a single copy of the information
would be compromised.

Why Choose BlockTech Brew?




Our skilled cryptocurrency software engineers with years of experience are proficient in
offering clients specialised blockchain app development services. To help you mark your
presence in the cryptocurrency market, we incorporate dynamic elements like adaptability,

tradability, and substitutability.

BLOCKTECH BREW

THANK YOU

CONTACT US TO LEARN MORE

Phone Email Website
+971554738790 [email protected] blocktechbrew.com/