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The only technology which has huge potential to disrupt the entire online industry and enterprises across the globe is "Blockchain technology". Irrespective of the business type this groundbreaking technology helps business people to enhance their business with more security and also to symbolize it as a user-friendly business.
The bitdeal team of cryptocurrency experts helps to starving crytpopreneurs to make use of blockchain technology for their business growth. Continue reading this article to know more about the use of blockchain technology!
I hope you know that past of blockchain technology! If not, pick the following words!
It is a technology which is used to store and retrieve the data in blockchain. All data are encrypted and stored in an easily retrievable and decentralized location called blocks of the blockchain. People who have rights to access the blocks can monitor and validate the data.
By understanding the real benefits of this undisputed technology business people made steps towards converting the technology for all kind of business purpose.
Not all business are suitable for integrating blockchain API integration and implementation. But before integrating blockchain technology ask yourself the following questions! 9 Popular industries where blockchain technology started to ruling around world
1. Will blockchain bring value to your business or enterprise?
2. How will my business scale if there are no investors for the tokens which I have created?
3. How can blockchain integrate cryptocurrencies and smart contracts with your mainstream business?
The most importantly it is must for you to understand the type of blockchain technology.
Types of blockchain technology
Believe it or not, there are two types of blockchain technology, shocking? Yes
1. Restricted blockchain(Permissioned blockchain)
2. Unrestricted blockchain (Permission less blockchain)
Restricted or Permissioned blockchain
It helps a business to operate as a private organization but powered with blockchain. Permissioned or restricted blockchain allows the network to appoint a certain group of members to validate or to participate in the consensus technology. Others are restricted to validate the transactions and other data
Example: Hyper ledger Projects
Unrestricted or permissionless blockchain
It is open to the public that is anyone can participate and validate the data transactions throughout the network. A perfect example of this type is bitcoin mining. If you are a goods industry then sure using the unrestricted blockchain will harm your private business, because it makes a way for third parties to involve in validating the data traffic. Using the permissionless blockchain for such kind of business will make no sense and will destroy its prime purpose.
But Permission or restricted blockchain is a complete business to business application.It is upon you to choose which technology better suits your business growth and security.
Start integrating blockchain technology with your business
Have you chosen which blockchain to integrate with your business? Still not getting an idea? Talk with bitdeal team, to get more interesting info and tips about blockchain API integration
Greetings! This is Dheivanai! My love for writing transformed me as a blogger and the Passion for Crypto industry turned me as a business advisor at bitdeal. Crazy towards digging deep and analyze the new trends in the Cryptocurrency and Blockchain Industry. Follow us to read interesting and existing blogs! Stay tuned, Stay updated!
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