Hi my best steemit friends in this community
Back again with me in this post in the SteemitCryptoAcademy community about the topic of the contest by title ; Steemit Crypto Academy Contest / S8W1 - The Importance Of Blockchain Technology
I invite my other friends namely;
@hdnur08
@rahmat31
@muslim84
@ikwal
@nur90
Hopefully the friends that I mentioned their names will participate in this contest.
On this very happy occasion I will take part in a contest organized by the SteemitCryptoAcademy community with the 8th week 1 session steemit engagement challenge on the topic; The Importance Of Blockchain Technology.
In participating in this contest there are several guideline instructions that are given in advance so that we can understand better to explain what is desired in the contest.
Blockchain technology is a way for crypto users to be able to transact safely and that is by using crypto networks and Blockchain technology is very profitable for users who already understand how to manage it.
I'll start off with the first contest hint guide.
What is Expected in the Contest?
What are The main issues arising in the existing system of Blockchain technology
Blockchain technology in my country is familiar both in cities and in villages and its users will continue to increase, maybe due to the benefits provided to users, surprises can occur from time to time and even then if we have assets in Blockchain.
Every technology built like Blockchain technology will have advantages and disadvantages but we can overcome this by being careful in managing Blockchain technology such as security that can be attacked by hackers and also if the transaction is too busy then it will take a little longer to process whatever we do in Blockchain technology, therefore find out when the right time is for us to continue making transactions.
Explain to us some of the key features of Blockchain Technology
Blockchain technology which according to my knowledge is a safe technology if we understand about Blockchain and we can control it by ourselves without interference by other people and here are some features we should know about Blockchain technology features.
Blockchain technology has security features that can secure the network and data stored on the blockchain. Transactions recorded on the blockchain network cannot be changed or anything can only be seen by all users including myself. In essence, the Blockchain Technology feature is transparent. secure, decentralized and cannot be changed by anyone.
Give a basic and simple understanding of how blockchain technology works
According to the experience and knowledge that I have about Blockchain Technology, namely having a way of working blockchain to record finances in a ledger, blockchain creates new transactions and then verifies and validates these transactions. Transactions that have been validated, these transactions are structured in such a way that they are interconnected which contain transaction information that cannot be changed by anyone, what we do in Blockchain Technology needs to be verified through the existing network so that the transactions we make can be validated , Transactions that have been validated will be recorded in the blockchain permanently and all of them can be distributed throughout the network.
Provide an understanding of how we can be able to use Zero knowledge proof for authentication
Zero -knowledge Proof (ZKP) is a method in the blockchain that is useful for users to be able to authenticate with each other without showing the most important data and that method is also getting advanced because it keeps privacy safe and usable. Using ZKP for authentication can be used to prove someone's identity without having to disclose important information such as a master password.
Advantages and Disadvantages Of Blockchain Technology
The advantages of blockchain technology
Blockchain technology has advantages and it is proven for anyone who uses blockchain technology such as safer security, transparent systems and flexible and permanent data storage that cannot be changed by anyone.
Disadvantages of blockchain technology
This Blockchain technology also has weaknesses such as processing transactions when the network is busy because at that time the costs must also be higher so that it can be completed as expected. If the user sends a transaction to the wrong address then the process cannot be reversed and the funds will be lost which makes the user lose.
Thus my post this time, I hope it will be useful for all of us, especially for myself and don't forget to thank all my friends who have read my post.
Thanks to ;
@crypto-academy
Best regards always ;
@ana07
Assalamualaikum,
Dear Friend you shared your ideas and how you take and think about Blockchain. At some points I didn't get much but I can understand what you're trying to say.
But It's quite interesting that you have mentioned your views about the existing problems in Blockchain and what are the features of Blockchain.
I want to advise you to use some headings it will make your text more easy to read. I want to say you good luck for this contest and I hope we will see your growing in next contest. Waiting for your next entry.
Regards: @cryptobitcoins
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wassalamu'alaikum.
Thank you for reading and seeing my post and understanding it even though it's not as detailed as what our other friends have written, I hope happiness will always be with you.
Greetings of success always for you..
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good luck bruh ☺️
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The post is easy to understand, very simple even though it's not as good as the posts of my other steemit friends,
I can understand the brief explanation even though I don't understand much blockchain technology either,
Thank you for the invitation, I will try to learn and find out about this blockchain technology and I will try to follow it,
Keep the spirit up 💪✍️
Good luck for you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for reading and viewing my post, I hope happiness will always be with you..
Greetings of success are always with you..
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for sharing your knowledge and insights about Blockchain Technology. It is an innovative technology that has revolutionized the way we transact and store data. Your post has provided a detailed and informative explanation of the importance, key features, working, and advantages and disadvantages of Blockchain Technology.
The interactive and immersive aspect of your comment is engaging and keeps the reader interested. The use of visuals and external sources adds credibility to your arguments and makes it easy for readers to follow your thought process. Moreover, your use of examples and personal experience helps readers understand the practical applications of Blockchain Technology.
In conclusion, your post is a valuable contribution to the SteemitCryptoAcademy community, and it provides a comprehensive understanding of Blockchain Technology. I appreciate your efforts in making this post informative, interactive, and immersive. Keep up the good work!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for reading and viewing my post, I hope we can all be even more advanced in the field of Blockchain.
Whatever we do in the hope of being able to give something even better in living a real life.
Greetings of success are always with you my friend....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hii @ana07
Thanks for sharing your quality blog I appreciate your efforts in creating this article. Blockchain technology is in the progressing stage and hope so it will stabilize itself more by updation in its features in the future.
It has many advanced features such as a Decentralization transparency and accuracy etc. You have also explain about the advantages and disadvantages of the blockchain technology.
You have briefly attempted all the questions with your knowledge I appreciate that you have participated in the contest. I am looking forward to learn your article with more detailed information and explanation in the future I wish you Luck for the success.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for reading and viewing my post, I hope it helps a little from what I have provided in my post.
Greetings of success are always with you my friend..
Good luck to you...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Greetings friend you have given your views with regards to the topic under consideration i.e the importance of the blockchain technology. Blockchain technology is important because of its safety, transparency and others. Though we still have a few draw backs or disadvantges of this technology as you have clearly stated above. Loss of asset when token are sent to wrong address. I wish you success in this contest my friend.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for reading and viewing my post, I hope success will always be with you..
Greetings are always with you my friend...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit