Blockchain 4.0 technology is identified by experts as the “key” to the success of the 4.0 technology era. Blockchain plays an important role in digital transformation and building a technology foundation for the future. To understand more about this technology as well as the applications of blockchain technology, please read with chromesupport for details in the article below.

Viewing: What is blockchain technology 4.0

What is Blockchain 4.0 technology

?Blockchain, also known as blockchain technology – one of the new development trends of information technology in the future, will be widely applied in many industries. professions and fields. In essence, blockchain is a technology for storing and transmitting information in the form of structured blocks that are linked together.

What is blockchain technology 4.0?

Blockchain 4.0 technology is a link technology that transmits information by linked blocks applied in the modern 4.0 technology era with practical applications in many industries.

The application of technology transfer to growing aeroponics has helped people have more income because when applying this technology, vegetables grow very quickly but are safe.

With the blockchain, the blocks containing information will be connected to each other, the newly created block will be connected in turn with the previous data blocks. Blockchain designs are resistant to data change even when added. If part of the blockchain system collapses, computers and other nodes in the system will continue to work to protect information.

Blockchain technology application is used in many fields and industries from government organizations to banks, finance, businesses, units, retail establishments, … forming a system of blocks. Data information is linked together into a very large information chain.

READ MORE  Meaning Of The Word Market

Another special feature of blockchain 4.0 technology is the ability to transmit data without intermediaries and requires information confirmation. Because the blockchain system includes many independent nodes and is capable of authenticating information without intermediaries. Therefore, data information will be processed more quickly and accurately.

Application of Blockchain technology

Blockchain technology is increasingly popular, upgraded and used in all areas of life. Many utilities in entertainment, social networking, health care, … all have the presence of blockchain technology.

Some of the applications of blockchain technology can be mentioned as follows:

Smart contract (Smart contract)

These are digital contracts written in code based on the foundation of blockchain technology that can automatically operate and allow the exchange of virtual assets, services, shares, etc. transparently without intermediaries, translate.

See also: What is stress – Causes of stress

Smart contract application of blockchain technology 4.0

The programs of smart contracts are all pre-programmed, users can execute when they meet the set conditions. Smart contracts can be used in all fields and services such as insurance, payment, lending, etc. With this smart blockchain technology application, contracts are transacted with a whole bunch of papers and procedures. , takes a long time will probably disappear in favor of agile automation contracts.

In the new technology era, the application of technology taxis for people has been implemented in many companies, this is considered a race of the rich.

Microgrid system

With the application of blockchain technology, a micro-grid power system will be born and replace the previously risky communication grid. This grid system will use clean energy generated daily in residential areas. It has been applied in Brooklyn, New York, USA for very surprising results.

READ MORE  What is Product Identification?

Decentralized cloud computing technology

This is one of the applications of very smart blockchain technology, decentralized cloud computing Storj – startup is a breakthrough modern business model of Atlanta Tech Village.

Cloud computing technology focuses on data processing

The cloud storage model on the server will not have to go through the big guys like Google, amazon,… and worry about your data being threatened when their servers are hacked. Instead, blockchain technology gives you a hard drive and bandwidth in the cloud for you to store your data directly. With blockchain technology your data is not only well guaranteed but also has a much faster processing speed.

Blockchain technology applications are also used in many fields such as: wealth management, direct elections, international payments, prediction of markets and future events, anti-counterfeiting, connected social networks ….

See also: What Are En Standards – Standards Bodies

With the information about what blockchain technology 4.0 is and the applications of blockchain technology in various areas of life, we hope to help readers better understand the modern technology that is gradually dominating this market.