Grow Your Business. Grow Your Career.

Contact Us
877.823.3669

Blockchain Basics

Author: Moe Harrison /Tuesday, January 17, 2017/Categories: SNI Companies, SNI Financial, Financial Staffing, For Employers, Industry Trends, SNI Certes, Financial Staffing, For Employers, Industry Trends, SNI Technology, Accounting Now

Rate this article:
5.0

A blockchain is a ledger of records arranged in data batches called blocks which use cryptographic validation to link themselves together. Each block references and identifies the previous block with a hashing function, forming an unbroken chain.

What makes a blockchain unique, and of value, is that it’s a database - with built in validation. The truly unique part is that the database is not stored in a specific location, but instead it is distributed. Since those who access the data have only a copy and not the original file they can’t change, modify, or tamper with the file. Perhaps the best definition of a blockchain is that it’s an independent, transparent, and permanent database coexisting in multiple locations and shared by a community.

The team at Blockgeeks.com have created the following graphic which is a great explanation of how blockchains work:

There are not yet clear standards to govern how blockchains will be implemented across an enterprise. Some companies may choose to use the bitcoin network, while others may opt for “permissioned” or semi-private blockchains.

While concerns about privacy remain, especially for financial services applications, 2017 will see many industries working to take advantage of the benefits of blockchains.

Print

Number of views (8902)/Comments (15)

Moe Harrison
Moe Harrison

Moe Harrison

Moe Harrison is a Regional Vice President with SNI. With more than 15 years’ experience in recruiting and personnel management, Moe has a unique perspective on the top issues and concerns of employers and candidates in the accounting and finance fields.

Other posts by Moe Harrison
Contact author Full biography

Full biography

Moe Harrison is a Regional Vice President with SNI. With more than 15 years’ experience in recruiting and personnel management, Moe has a unique perspective on the top issues and concerns of employers and candidates in the accounting and finance fields.

x

15 comments on article "Blockchain Basics"

Avatar image

Rokshana

10/19/2017 4:39 AM

Thank you for this inspiring post. It is truly a paradigm switch, especially for us in the US, to pursue education as a pursuit of wisdom verses an adedemic accomplishment.

see more...http://www.latestdatabase.com


Avatar image

Buy essays

3/31/2018 6:53 AM

Here the writer is giving great considerations and proposals to every last perusers through this article. A debt of gratitude is in order for sharing the pleasant data. I increased in value over read your blog passage.


Avatar image

BLOCKCHAIN TRAINING IN HYDERABAD

4/20/2018 7:28 AM

EXTRAORDINARY CONTENT AND EXPLANATION NEEDED TO ALL THE ASPIRANTS WHO ARE WORKING ON THE BLOCKCHAIN TECHNOLOGY.


Avatar image

gift

10/12/2018 2:06 AM

Thank you for this inspiring post. It is truly a paradigm switch, especially for us in the US cool


Avatar image

free gift code

10/12/2018 2:08 AM

You mean you're offering an opportunity for people to cheat and basically send out unqualified and untrained people into the market


Avatar image

run 3

11/12/2018 2:15 AM

I am grateful to have opened this discussion. This question is quite interesting to me. Finally the answer was found



Avatar image

mega

12/24/2018 5:22 AM

Thank you for bringing that experience to you. I like this post very much.


Avatar image

MecaNet

12/24/2018 5:23 AM

Thanks for giving me the useful information. I think I need it!


Avatar image

MHRWrite

1/27/2019 7:00 AM

Wow what a Great Information about World Day its exceptionally pleasant educational post. a debt of gratitude is in order for the post.






Leave a comment

This form collects your name, email, IP address and content so that we can keep track of the comments placed on the website. For more info check our Privacy Policy and Terms Of Use where you will get more info on where, how and why we store your data.
Add comment

Contact author

x
Subscribe to Our RSS Feeds!