What is blockchain and Ethereum Where is it used

0 votes
I just got a chance to work on Ethereum, a block-chain based platform. But I don't have a clear idea in which scenarios this is used, any real-life use of this. Could anybody help me understand blockchain-based platforms and their real-life uses?
Apr 7, 2022 in Blockchain by Soham
• 9,700 points
105 views

1 answer to this question.

0 votes

blockchain is an immutable, sequential chain of records called Blocks. They can contain transactions, files or any data you like, really. But the important thing is that they’re chained together using hashes. The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin wallet software. Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called "mining".

Ethereum, a type of blockchain that can be used to develop decentralized applications & several banks have already adapted Ethereum to develop and test blockchain trading applications. 

answered Apr 11, 2022 by Rahul
• 9,670 points

Related Questions In Blockchain

+1 vote
1 answer

What is Ethereum Blockchain? Where is it being used?

Blockchain is a decentralized distributed database of immutable records, ...READ MORE

answered Apr 3, 2018 in Blockchain by Christine
• 15,790 points
382 views
+1 vote
2 answers

What is a blockchain and ethereum?

Some of the use-cases are: Healthcare Medical records are ...READ MORE

answered Aug 9, 2018 in Blockchain by Omkar
• 69,190 points
412 views
0 votes
1 answer

What is the difference between ipfs and ethereum?

Blockchain and IPFS are based on similar concepts of decentralized ...READ MORE

answered Nov 15, 2018 in Blockchain by Perry
• 17,100 points
3,019 views
0 votes
1 answer

Truffle tests not running after truffle init

This was a bug. They've fixed it. ...READ MORE

answered Sep 11, 2018 in Blockchain by Christine
• 15,790 points
1,191 views
0 votes
1 answer
+1 vote
1 answer

Protocols used in a distributed/dlt system for the nodes to establish communication

yes all are over TCP/IP connections secured by TLS encryption in hashgraph architecture-hashgraph, ...READ MORE

answered Aug 6, 2018 in Blockchain by aryya
• 7,450 points
806 views
0 votes
1 answer
0 votes
1 answer

Ethereum/BSC blockchain transaction data

The "Tokens Transferred" information comes from event ...READ MORE

answered Mar 24, 2022 in Blockchain by Rahul
• 9,670 points
408 views
webinar REGISTER FOR FREE WEBINAR X
REGISTER NOW
webinar_success Thank you for registering Join Edureka Meetup community for 100+ Free Webinars each month JOIN MEETUP GROUP