Blockchain Technology | Pro Invest Ideas
                     TOP 5 USES
 OF BLOCKC
HAIN TECH
NOLOGY YO WWW.PROINVESTIDEAS.COM
U DIDN’T K
NOW ABOU
T
WHAT IS 
BLOCKCH
AIN 
TECHNOL
OGY? WWW.PROINVESTIDEAS.COM
Before learning the best uses, let’s first learn what Blockchain T
echnology is. It is a ledger that records transactions in a digital format 
across a network of computers. It is popular because once a 
transaction has been entered and recorded in its database, it is 
impossible to alter or delete it.
Another important aspect of this technology is that it works in a chain 
system consisting of blocks that hold a certain number of transactions. 
Thus, it is named ‘Blockchain Technology.’ It further allows for 
transactions between two unknown parties with ease without the need 
for a central authority to govern it.
Thus, Blockchain is a secure technology to record transactions 
transparently.
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HOW DOES 
BLOCKCHAIN 
TECHNOLOGY 
EXACTLY 
WORK? WWW.PROINVESTIDEAS.COM
One must know how Blockchain works to use it as an optimum resource. 
Blockchain technology, nowadays, is used in many different industries. 
Primarily, it allows cost and time-saving transactions with tight security.
When one uses Blockchain Technology to make a transaction, the technology 
records the details and proceeds. But, the data recorded serves as a digital 
database that can be checked but cannot be altered. As they consist of so 
many innumerable ledgers, this technology is also sometimes called 
‘Distributed Ledger Technology (DIT).
In business, Blockchain Technology ensures a secured and transparent 
transaction recorded in a digital database and allows room for decentraliZation 
of authority. It can be used in financial transactions, supply chain management 
transactions, and further in digital transactions too.
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DISADVANT
AGES OF 
BLOCKCHAI
N 
TECHNOLO WWW.PROINVESTIDEAS.COM
GY 
Some of them have been discussed below:
0 The large number of Although blockchain transactions done by users 0 technology attempts to 
every minute from different provide the most secure 
1 parts of the world will lead to transactions, they have also higher processing fees.  2 been prone to cyberattacks 
and thefts. 
0 Blockchain technology is a bit A large amount of energy is complex in structure. Many 0 utilized to cope with such 
times, it may be hard for a large networks and data, 
3 normal person to understand which is not good for nature it at one time. 4 in general.
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USES OF 
BLOCKCH
AIN 
TECHNOL
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OGY 
BLOCKCHAIN TECHNOLOGY AS A 
CRYPTOCURRENCY
Cryptocurrencies are generally currencies on a Digital Platform in a digital format. These 
currencies can be used to buy or transact over blockchain without centralization. The key fact 
for its popularity is that cryptocurrencies can operate independently and are decentralized as 
the blockchain.
As these digital currencies are prone to cyberattacks, crypto hardware wallets are used. They 
are used to hold the private keys associated with your crypto account. There are also online 
crypto hardware wallets that can be accessed through the web or app. They are known as 
“cold storage” as they store the keys on any cloud storage or remote server which is not 
connected to the internet. 
There are many cryptocurrency wallets in the market, such as Ledger wallet, Trezor wallet, 
Metamask, Exodus, and many more. 
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Blockchain Technology has many other uses other than 
Cryptocurrency. Some of these have been discussed below: 
FINANCIAL SUPPLY CHAIN 
BloTckRchAainN caSnA beC eTffeIcOtivNelyS With nMew AdeNveAlopGmEenMts EemNerTging in 
used to deal with financial blockchain technology every day, it is 
transactions which are secured also for the supply of goods. The 
and decentralized.  Also, digital technology can trace and track the 
currencies and smart contracts movement of goods in transit throughout 
are becoming extremely the journey allowing transparency of the 
popular.  entire process.
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CONTINUE:
HEALTHCARE GAMING AND VIRTUAL 
Blockchain technology has made Another of tRheE mAosLt pITopYular uses of 
data handling easier for blockchain is its integration into gaming 
healthcare sectors. The and virtual platforms. The gaming 
distributed ledger network allows industries are working on creating 
the information recorded to be advanced virtual worlds for gamers.
shared easily. 
CONCLUSIO
Although they areN secure and a great 
way to store data on a large network 
making the data handling, they are 
currently prone to cyber threats. There is 
still scope for development in this 
technology, but it’s worth keeping an eye 
on.
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