Al-Khawarazmi Institute of Computer Science (KICS) organized a Free Seminar on Technical and Implementation Constructs of Blockchain Technology on 5th November, 2019. Large attendance of researchers along with faculty was seen there taking deep interest in this new technology which has started getting noticed rapidly in the world. Blockchain – it is a revolutionary technology impacting different industries miraculously was introduced in the markets with its very first modern application - Bitcoin.
Bitcoin is nothing but a form of digital currency. In the simplest terms, Blockchain can be described as a data structure that holds transactional records and while ensuring security, transparency, and decentralization. You can also think of it as a chain of records stored in the form of blocks which are controlled by no single authority. A blockchain is a distributed ledger that is completely open to everyone on the network. Once information is stored on a blockchain, it is extremely difficult to change or alter it. The blockchain technology with its unique features like decentralization and P2P network has won the hearts of numerous industry owners.
Various expert speakers from this field discussed crypto currency, the actual definition of Blockchain, functions of this new technology, its structure and various other relevant topics such as consensus algorithms, smart contract or chain code, Blockchain networks types, its usage and its different frameworks. It was an altogether a full depth seminar on Blockchain to spread the awareness about this rapidly growing technology, which is set to overcome the world in next 5 or 10 years.