A digital database that is containing wide range of data records and distributed on the area of network all over the world. This block chain technology has a powerful cryptography technique. This technique can protect data from human error, editing, and tempering. The recorded data of blockchain technology will save in blocks. The blocks are just like a storage system that contains to the records of all transactions. The whole process of block chain technology is deeply connected to the clear coin. Clear coin is another term in block chain technology which will hold amount until the process of transaction will no complete.
Key legal issues in blockchain technology: This is a new technology that is generally prohibited by regulators. Simply we can say there is no any restricted regulator. The block chain technology and all related terms of block chain technology are relating to a specific law. That is divided into two categories and those types of law have been listed below:
- Enabling legislation
- Prohibitive legislation
Define the term of token sales (ICOs)
Token sale is the most prevalent application of the technology of block chain as well as of crypto currency. It is becoming more popular in these days due to its advance features. There are different types of uses of token in this technology. In the process of token sales, generally people create a crypto currency token for the special purposes. Token sales process allow to the companies to raise their capital growth without leaving equity in their company.
To sum up, block chain technology is a new revolution in the industry sector. The entire process of business industry has become faster as well as transparent. So you can you this technology to making business transactions successful.