Cryptocurrency may be the star of the blockchain world. But the same qualities that make blockchain useful for currency — security, transparency, decentralization, immutability — also apply to a slew of other uses. We believe that one of the most important changes on the horizon is in healthcare and we’ll tell you why. But first, let’s go over the basics.
Blockchain basics
Blockchain is a shared and distributed ledger system. It is just like keeping a record of transactions on a spreadsheet (centralized), except blockchain does it through a network of peer to peer computers and follows three essential steps.
The important thing to know is that a blockchain is a tamper-proof database that can be accessed by many different parties but is not controlled or manipulated by any single party.
Continue reading: https://www.linkedin.com/pulse/blockchain-remake-healthcare-sector-you-ready-kenneth-daniel-tan/?trk=articles_directory
Blockchain basics
Blockchain is a shared and distributed ledger system. It is just like keeping a record of transactions on a spreadsheet (centralized), except blockchain does it through a network of peer to peer computers and follows three essential steps.
- Making a record of each transaction or input
- Verifying the transaction to ensure validity
- Once verified, each input or transaction is added to a block that gets hashed (encrypted)
The important thing to know is that a blockchain is a tamper-proof database that can be accessed by many different parties but is not controlled or manipulated by any single party.
Continue reading: https://www.linkedin.com/pulse/blockchain-remake-healthcare-sector-you-ready-kenneth-daniel-tan/?trk=articles_directory
