BLOCKCHAIN: Introduction
What is Blockchain Technology
Blockchain technology is a type of distributed database that allows for secure, transparent and tamper-resistant transactions. This means that it can be used to create a secure, decentralized ledger of transaction data. The most well-known application of blockchain technology is bitcoin, but the potential uses of blockchain technology are far broader. At its core, blockchain technology is a type of distributed database. This means that it is a database that is not stored in a single location, but rather is distributed across a network of computers. This decentralized structure allows for secure and transparent.How does Blockchain Work
A blockchain is a digital ledger of transactions that is distributed across a network of computers. This decentralized structure allows for secure, transparent and tamper-resistant transactions. Each transaction is verified by the network nodes, and each node keeps a copy of the digital ledger. This means that there is no single point of failure, and the system is?? That’s a question that many people are asking these days. In this blog post, we’ll attempt to answer that question in a comprehensive way.Blockchain Network
More BLOCKCHAIN: Introduction include A blockchain network is a digital ledger of all cryptocurrency transactions. It is constantly growing as “completed” blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the block chain to differentiate legitimate Bitcoin transactions from attempts to re-sp.Types of Block Chain Network
- ERC-20 Network.
- TRC-20 Network.
- BEP-20 Network.
- BEP-2 Network.
ERC-20 Network
ERC 20 Network is a decentralized network of Ethereum token holders and developers who work together to grow the Ethereum ecosystem. The network is responsible for maintaining the ERC 20 standard, which defines a set of rules that all Ethereum tokens must follow. In addition to maintaining the standard, the network also promotes adoption of Ethereum tokens by businesses and individuals. Ethereum blockchain.- USDT
- USD coin (USDC)
- Wrapped bitcoin (WBTC)
- Dai (DAI)
TRC-20 Network
The TRC 20 network is a blockchain network developed by the TRON Foundation. It is designed to be compatible with Ethereum’s smart contract ecosystem and allows for the creation of tokens that can be used on the TRON network. The TRC 20 standard is based on the ERC 20 standard, which is the most widely used standard for creating. Tron Cash Blockchain. We can also made other tokens on TRC-20.- Revain
- JUST
- PYRO Network (TRON)
- JUST NETWORK
- TRONbetDice
BEP-20 Network
BEP 20 defines a set of rules and conventions for how BitShares should function as a decentralized autonomous organization or DAO. The purpose of BEP 20 is to provide guidance on how the BitShares community can operate in a transparent and accountable manner. BEP 20 also establishes a process for amending the rules of the BitShares. Mostly use token i.e., Pancake Swap uses BEP-20 network. This network is also used for transfer and Creation of tokens. Other token include that are:- BUSD
- Pancake swap CAKE
- SAFEMOON
- ALPHA
- BUX
BEP-2 Network
BEP 2 Network is a decentralized network of computers that allows for the secure and efficient transfer of data between different points on the network. The network is made up of a series of nodes, each of which stores a copy of the data on the network and relays information to other nodes. Nodes can be connected to each other directly. Only Binance Chain- ADA
- AERGO tokens
We cannot transfer any coin from BEP-20 to BEP-2 our coin will be lost.
Above is BLOCKCHAIN: Introduction that we cover in Post.