The one question that has come to every person’s mind that what exactly is blockchain or for what purposes it is going to be used. The blockchain is an undeniably genius invention of Satoshi Nakamoto. It was invented in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin. But since that time it has evolved into something greater.
The blockchain is a continuously growing list of records called blocks. It is a distributed ledger that can efficiently take records of transactions happening between two parties in a verifiable way.
Once recorded the data in any given block cannot be altered without altering the subsequent blocks which will result in the collision of the whole network. The blockchain is a very secure way for the recording of events, medical reports, and the other records management functions
✅ What is Blockchain?
The blockchain is mainly a digital ledger book of economic transactions which can be programmed to record not only financial transactions but virtually everything of value.
✅ Basic understanding of Blockchain
Think of Blockchain as a digital book that has crores of copies and every person in this world owns one and this book can update its information after a certain period of time and once the information gets updated everyone having that copy of the book now has access to the updated version of the book. The method of blockchain is similar to this hypothesis. There is no centralized information here for a hacker to corrupt and use for his own good. The data it contains is accessible to anyone on the internet.
✅ What is Bitcoin
Bitcoin is a digital currency that does not belong to any country or not backed up by any central bank or government. Bitcoins can be traded for goods/services with vendors who accept bitcoin as a payment. A network called P2P monitors the transfer of Bitcoins between users. Bitcoins are stored in a program called digital wallet which preserves the address info every user sends and receives bitcoins from. The bitcoin network is mathematically designed to create no more than 21 million bitcoins and the program is set up to deal with inflation. One bitcoin is usually worth of $104 but the value of bitcoins can fluctuate really quick.
✅ Best Blockchain development companies to invest in
Well if you are looking for a good blockchain company to invest your hard-earned coins or for hiring we have just made your work a whole lot of easier. Being a business owner or a technological expert it is very strategic to invest in blockchain companies. In the upcoming years, blockchain is going to have a tremendous effect on the financial sector.
So, to help answer your question here is a shortlist of the best blockchain companies according to 2018.
1. Agile Lab: Agile lab is a well-known agency in Singapore. It helps startups to launch their MVPs and also customize applications for organizations. They have a brilliant innovative team. They are known for their special skills in web development and creating mobile applications.
2. Intellectsoft: This company is a global software solution provider. It provides blockchain-based solutions, smart contracts development and team extension for blockchain projects. Intellectsoft has helped dozens of enterprises including the London Stock Exchange and The World Bank which proves Its reliability.
3. ValueCoders: ValueCoders is an Indian software-based company that has a long work experience and also offer its clients a reasonable price point for hiring purposes. It helps with startups and lends a hand to agencies who are facing a hard time in their IT outsourcing experiences.
4. 10Clouds: It is basically a web and mobile software development company that has a team of over 100 experts who works on diverse projects in blockchain development, motion design, machine learning etc. Their blockchain products are mainly focused on Industries like finance, healthcare, and education.
5. Altoros: If you are looking for someone very professional Altoros is just the right place. They are a high-end professional consultancy company from the heart of Silicon Valley. They also have offices in UK, Norway, Denmark, Switzerland. Their field of expertise is in cloud consulting, big data and blockchain technology. Altoros helps clients to decide what kind of blockchain solution is best for them. Minimal project cost starts at $25,000
P.S. This list is not ultimate or objectively accurate. The companies are evolving every second and at the end of the day, it’s totally up to you to choose the best blockchain company according to your needs.
Here is are ways the blockchain can help the environment
Blockchain Impact on businesses: At the end of the last year the value of bitcoin reached an enormous point that the whole business world was shaken to its core. But within a month the value dropped almost to 50% from what it once was. Cryptocurrencies like bitcoins can impact the whole business market worldwide with events like this. But there is no point in being afraid of this digital financial system. Being ahead of the crypto curve is the way you can establish your business. Though a little change in the blockchain system can have the massive effect it can also increase your efficiency to the point you never imagined. Evolvement following a shift of dramatic change in the financial world will be no longer a concern; how much strength you have laid your foundation in this competition is what truly matters!