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Blockchain: A Potential Game-Changer For Telecommunications

Press Release: August 21, 2020

Blockchain is synonymous with security, immutability and anonymity. It is an ever-growing openly distributed ledger featuring decentralized nodes or blocks containing a timestamp, transaction data and cryptographic hash to avoid unauthorized access to confidential information. 

 The biggest advantage of blockchain is that it is managed by a peer-to-peer network, which adheres to a protocol to validate new blocks and facilitate inter-nodal communication. Data once recorded in the blocks, cannot be altered unless all the subsequent blocks are altered, which in turn requires a consensus from the network majority.

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