Why we use blockchain for data exchange

15 April, 2023 by shivamsharma9529

At a high level, we can think of blockchain technology as a platform for digital data exchange that eliminates the need for the traditional intermediary roles. Data sharing, data exchange, or any other sort of transfer all seem to be useful.

Using blockchain technology, any form of data may be accessed quickly. For employing blockchain technology, the data kept on the chain is quickly deleted and accessible. We can access to the data whenever and wherever we want. It is the most safe method of exchanging data.

We can share data using XMPP (Extensible Messaging and Presence Protocol), which is the currently available solution. TLS (Transport Layer Technology) is also a method of data sharing. Whatsapp also uses TLS as its data transport protocol. WhatsApp transfers data between users using end-to-end encryption technology. Encryption from end to end makes sure that the information you send is only shared between you and the recipient. Data cannot even be read by the platform you are using.

Still, the development of data models in prosopography has led to one common concept beyond the use cases described above. IPIF realizes a conceptual model for which we use to transfer data. Same like this we are having API that we also use to exchange data.

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