What is Blockchain?
Despite the underlying complexity of the technology, a blockchain is simply another type of database for storing information – information that is copied to all of the computers in a participating network. A blockchain is thus sometimes referred to as a ‘distributed ledger’.
Data in this decentralized environment is stored in fixed structures called ‘blocks’.
Key Components of a ‘Block’ are described below:
- Its header, which includes metadata, such as a unique block reference number, the time the block was created and a link back to the previous block
- Its content, usually a validated list of digital assets and instruction statements, such as transactions made, their amounts and the addresses of the parties to those transactions.
Since each block is ‘chained’ to the previous block, a blockchain database keeps a complete record of all the data, its versions, and the instructions/commands executed on it since its origin. This is critical as the blockchain guarantees the data’s integrity and auditability as long as less than 50% of the computational power and nodes have been compromised.
As the number of participants grows, it becomes harder for malicious actors to overcome the verification activities of the majority. Therefore the network becomes increasingly robust and secure.
Top 10 Blockchain Development Companies
Blockchain Studio (BCS) is a full service Software Design & Development firm offering services in Ethereum (Smart Contracts), Cryto Currencies (Bitcoin Forks, Exchanges, Wallets), and Blockchain implementations (Strategy, POCs, Roadmap, Migration, Implementation & Maintenance).
BCS has collaborated with Fortune 500 companies, Startups and Mid Sized firms across a spectrum of industries, ranging from Health Care, Finance & Government Services, to create Decentralized Applications actively being used by Millions of users across the globe.
With a 5.0 Star rating on Clutch, GoodFirms and AppFutura, Blockchain Studio has Ranked # 1 in our Top 10 Blockchain Developers List for 2018
Tymlez provides enterprises with a hyper-scalable enterprise level blockchain architecture which enables them to develop, deploy and scale up distributed blockchain applications which can also be integrated into their legacy systems and data.
Nuco enables you to build powerful applications with confidence, on top of our robust blockchain infrastructure. We are shaping the standards for enterprise-ready blockchain networks to streamline your journey from concept to production.
Blockchain Foundry is a part of the SGInnovate ecosystem and is housed in the SGInnovate Hub at 32 Carpenter Street in downtown Singapore.
Wholly owned by the Singapore government, SGInnovate is an overarching entity to consolidate innovation efforts, develop and take deep technology to the world.
Colu is a blockchain technology platform for enterprises and developers providing a powerful toolbox for building blockchain-based applications. Through Colu’s application municipal authorities, governmental entities and other organizations can engage directly with independent local businesses to drive local entrepreneurship and growth. Strengthening the relationship with residents and businesses helps preserves the local culture and uniqueness of the city and creates incentives for locals to stick around.
Chain is a San Francisco based technology company on a mission to enable a smarter and more connected financial system. We build the cryptographic ledgers that underpin breakthrough financial products and services
The Hyperledger Project is a cross-industry collaborative effort to support blockchain-based distributed ledgers for different uses. The efforts made by the Hyperledger team aim to develop a variety of blockchains with their own consensus and storage models, identity services, access control, and contracts.
Ragnarson is a team of developers, designers and devops building decentralized applications. We help entrepreneurs build MVPs to get their first customers and attract investors. Established companies hire us to increase development speed and quality. We plan and run reliable infrastructure.
Bacancy Technology is a web and mobile application development company renowned for offering top-notch IT services to entrepreneurs to meet the growing demand for custom, cutting edge and radically futuristic Blockchain technology. We have designed and developed most advanced Blockchain architectures on the market. We are artistically capable enough to process over 100,000+ transactions in just a second with an average confirmation time of less than 1 second.
Interbit is an enterprise-grade blockchain platform that enables applications to be built, managed, and run on a blockchain. Interbit is extraordinarily lightweight, allows fine-grained access control to keep data private and restricted to particular nodes, and enables scalability through indefinitely extendable blockchain networks. Interbit empowers organizations across industries to introduce blockchain technology to their businesses. By building core business functions on Interbit, organizations minimize workflows, integration issues, en route to future-readying their businesses.