Blockchain Consultancy

Blockchain is a distributed public ledger that monitors and registers the transactions made between interconnected nodes within a network. It has helped businesses create new trustful and verifiable networks by guaranteeing the validity of a transaction from three pillars: transparency, immutability and decentralisation.

By running in a decentralised format, blockchain networks have no parent authority — every bit of data is hosted by millions of computers at the same time. This means that information can’t be owned by a single entity. Instead, it is shared by all parties who are part of the network. As a result, all records are public and easily validated, while also being accessible internet-wide. 

However, public data also has to be safe. That’s why blockchain makes use of cryptographic hash functions to become immutable. Massive amounts of calculations and algorithms are run on every node of a network to keep data secure. Simply put, once data is uploaded to a blockchain, it becomes non-tamperable.

Finally, blockchain networks have introduced a new level of transparency never seen before in any financial system. Although all transactions are public, individual identities remain hidden via complex encryption and are only represented by a public address. This preserves privacy to a certain extent but also forces honest transactions within the network.