This tutorial is focused on a web based distributed application. If you are looking to build a mobile or desktop application then this tutorial is not for you.
Blockchain is the next step towards creating a more independent, peer-to-peer and decentralized system that could take the tech world by the storm. The tech world has been buzzing with words such as, ‘bitcoin’, ‘blockchain’ and ‘cryptocurrency’. Blockchain was originally created to support the Bitcoin but soon the tech community has started using this technology for other purposes.
Don & Alex Tapscott, author of Blockchain Revolution (2016) stated, “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
The Bitcoin fever has been spreading like wild fire throughout the world. Everyone wants to make some easy money by investing in this crypto currency. Bitcoin works on the blockchain technology. Blockchain was originally created to support the Bitcoin but soon the tech community has started using this technology for other purposes.
Blockchain is the brainchild of a person or a group of people known by the name of Satoshi Nakamoto. In 2017, the global blockchain technology market is predicted to reach 339.5 million U.S. dollars in size and is forecast to grow to 2.3 billion U.S. dollars by 2021.
Bitcoin has been the latest topic of discussion between work colleagues, business meals and even amongst friends. This virtual currency has made millionaires. Some believe that Bitcoin is a bubble that’s about to burst; while others think that it’s going to magnify its presence and believe that in the near future each Bitcoin could cost around $60,000. Who wouldn’t want to invest in a market where the returns are phenomenal? Everyone wants a piece of this pie!
Like the old saying goes, “With great power comes great responsibility!” Here, the responsibility lies on the digital ledger that records the transactions in a decentralized database located in multiple places – also known as the blockchain.