About Us

IT Services

Understanding IT

News & Events



Contact Us

  • Register

Ionix Blog

Ionix has been serving the Oklahoma area since 2000, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

This Week’s Tech Term: Blockchain

This Week’s Tech Term: Blockchain

As one of the most important emerging technologies out there at the moment, speculation about blockchain, and its growing list of practical applications, has run rampant. Soon, someone will come out with a blockchain application that makes and delivers pizzas. In all seriousness, it really holds a lot of promise for the development of interesting applications. For this week’s tech term, we look at the blockchain.

What is the Blockchain?
In the public eye, blockchain has almost exclusively been associated with Bitcoin and other cryptocurrencies. It’s true that blockchain technology is at the core of cryptocurrency, but it is much more. It is essentially a combination of three technologies that have been around for a while. They are:

  • Private key cryptography
  • Distributed network ledger
  • The incentivization of that network’s transactions, record keeping, and security

Since these technologies have been around for some time, pairing them together to make another, more dynamic technology seems like it would be advantageous for maintaining a ledger system that has a secure digital identity reference. Essentially, that’s what blockchain produces.

The main benefit of having a distributed network is that it provides multiple unquestionable validators for any transaction. If a transaction is in the blockchain, it absolutely happened, and, by the use of encryption, users of the blockchain know that no data could have been altered. Any attempt at altering information (in what is called a node) would create its own link in the blockchain; or invalidate the blockchain entirely. The more transactions on the network, the more verifications take place, and the more secure the transaction is.

What to Expect Out of Blockchain?
As was mentioned earlier, there are a lot of potential uses for blockchain technology. These applications will be dictated by the technology’s core features. Obviously, cryptocurrency utilizes blockchain to provide a secure transfer of monetary funds for users. As this technology advances and begins to be leveraged by multinational banking institutions (that are currently investing heavily in blockchain R&D), and nation-states, it may change the way that people around the globe view currency.

Other uses include:

  • Improve equity management and transfer
  • Failproof authentication
  • Provide smart contracts
  • Error-proof recordkeeping
  • Improve cybersecurity
  • Reduce inefficiencies in any number of industries
  • Eliminate election fraud

While it may not be the easiest technology to understand, the applications of it are numerous and could change the world we live in innumerable ways. What do you think of blockchain? Are you looking forward to seeing how it will affect the world around you? Leave your thoughts in the comments below.

A Close Examination of Cyberterrorism
Are Healthcare Providers Meeting HITECH Standards?


No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Sunday, 20 May 2018

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Tip of the Week Security Best Practices Network Security Cybersecurity Technology Small Business Hackers Data Recovery Internet Tech Term Mobile Device Cybercrime Communications Android Backup Business Computing Remote Monitoring Business IT Support Productivity Email data backup Privacy Google Smartphone Software Saving Money Data Breach User Tips Blockchain Cost Management Data Loss Holiday Internet of Things Innovation Malware Mobile Technology project management Mobile Device Management VoIp Collaboration Cloud Computing Mobile Devices Social Engineering Hacking Compliance Data Security Computer Gmail Hardware Regulations Bitcoin Update Applications Vulnerabilities App Bandwidth Alert Mobile Computing Artificial Intelligence Access Control Social Media Ransomware Office 365 Cortana Data Multi-Factor Security Efficiency Company Culture Nanotechnology Business Growth Television Net Neutrality Cloud Networking Data Protection Microsoft Excel Virtual Assistant Analytics Downloads intranet Legislation Identity Theft Network Fraud Mouse FCC UTM Hosted Solutions Business Cards Facebook Mobile Payment Private Cloud Virtualization Maintenance Operating System email scam Phishing Title II Google Docs Two-factor Authentication Storage Devices Hard Drive Patch Management Mobility Tech Terms Law Enforcement Laptop Business Management Data Warehousing Online Multi-factor Authentication Chromebook Cryptocurrency IT Plan Apple Desktop Screen Reader End of Support Software as a Service Device security Backup and Disaster Recovery Downtime Hard Drive Disposal Disaster Migration Spam IT Management Antivirus Communication eWaste Windows Server 2008 Microsoft Office Government Outsourced IT Disaster Recovery Twitter Passwords Piracy Accountants Unified Threat Management Information Technology Emails Conferencing Robot Windows 7 SharePoint Risk Management Managed IT Website Printer Software License Training Excel Budget Business Technology Bluetooth Google Calendar Mobile Security Automation Gadgets Freedom of Information Paperless Office Equifax Tip of the week Smartphones Wireless Headphones Document Management Websites Monitoring News Money Travel HTML Database Apps Startup Managed IT Services Fiber-Optic Comparison Remote Computing Augmented Reality Cleaning Value Management Computing Infrastructure Fake News Evernote Technology Tips VPN Tactics Browser Redundancy Smart Tech Digital Virtual Reality Computers Specifications Distributed Denial of Service BDR Healthcare Vulnerability Addiction Thank You Congratulations

Latest News & Events

Ionix is proud to announce the launch of our new website at http://www.ionix.us. The goal of the new website is to make it easier for our existing clients to submit and manage support requests, and provide more information about our ser...

Contact Us

Learn more about what Ionix can do for your business.

Call Us Today
Call us today
(580) 243-6195

601 N Van Buren
Elk City, Oklahoma 73644