Does Blockchain have the potential to replace Cloud computing? Here is the how and what of these changing technologies!

 Technological innovations are always on the rise and new technologies might have the potential to replace any other form of traditionally used technology in a very short span of time. According to a blockchain development company near me, there have been instances where new technologies have emerged and replaced the existing ones. Among all other technologies blockchain and cloud computing services are the most talked about.

What are the fundamentals of blockchain technology?

A blockchain is a new form of technology that works on online ledger technology providing information to the companies using it for the record-keeping purpose of transactions in an effortless manner. Blockchain development in India is gaining new heights with each passing day serving the purpose as it should.
The ledger talked about in blockchain technology is totally encrypted where communications done between the companies are done in a peer-to-peer or P2P network and is verified as well. The technology has even fueled blockchain application development helping transfer information from A to B without any possibility of storing false information that is being stored in the ledger. Transactions are being recorded through multiple verification modes and the transactions cannot be altered once entered.

How blockchain works and function?
Blockchain technology is only devised for handling transactions and trading of digital currencies like Bitcoin, Litecoin, Ethereum, and many more to be counted. The working principle of blockchain is very simple and every transaction made in a blockchain network is verified by the parties involved in the transaction. Once a transaction is recorded or entered into a blockchain network it cannot be altered which makes the transaction safe and authentic.

What is the fundamental of cloud computing?
Apart from blockchain development in India, cloud computing is also on the rise as it aids in delivering computing services like; data storage, database maintenance, networking, and data processing over the internet instead of using a local server or a personal computer.

In other words, cloud computing is also referred to as “The Cloud” where the word cloud simply depicts a new mode of data storage. Cloud services are liked by many because of being cost-effective. This is the reason why many financial bodies and data management companies opt for Cloud computing when it comes to storing data over the internet. Using cloud computing services it becomes easier to solve any form of data management issues faced by many companies.

How cloud computing works and function?
Cloud computing is developed to provide services using the internet through a browser-based dashboard making it easier for IT giants and the professionals involved in managing data resources and data accounts effectively. As depicted by a blockchain development company near me, cloud computing services are designed to work with REST APIs and command-line interfaces only.

This mode of computing system works on a traditional database architecture, where the data is required to be stored on the systems used by all the network participants. This technology (cloud computing) is particularly developed to provide online services like SaaS (software as a service) and PaaS (platform as a service). Cloud helps in storing and accessing the data using the internet where data safety can be quite concerning, whereas, blockchain uses different encryption modes of data storage which keeps the data safe at all times.

Concluding the above, blockchain does have the potential to replace the cloud as with a new update in every technology implementation of the right one will determine the future of technology and what is in store for it. According to a blockchain development company in Kolkata, blockchain will certainly revolutionize business processes in many sectors for offering data encryption technology which makes it a quite strong contender of cloud computing which is a comprehensive technology used by many sectors through the internet.