Blockchain: To get rid of online fraud, a technology called blockchain is used. It keeps you well protected and the data is saved from leaking anywhere.
Nowadays cyber frauds are adopting new tactics for online fraud. Every day news comes that so-and-so has been cheated online. Lakhs of rupees flew away from the bank account without OTP. Some other person was cheated in the name of EPFO. Don’t know how many more ways these cyber frauds harm you. To get rid of this, a special technology is being used. Which will break the back of these online fraudsters. Let us know what is technology…
To get rid of online fraud, a technology called blockchain is used. It keeps you well protected and the data is saved from leaking anywhere.
read this also: Making this mistake while buying a house can be huge
What is blockchain technology?
Blockchain is a special type of database that connects your data end-to-end and distributes it peer-to-peer. In this, your data is stored in a block through the chain. In this, your data remains absolutely safe. But let’s know how it works.
How does this technology work?
The main motive of blockchain is to keep people’s data safe. It works with full transparency, that’s why people’s trust is increasing on it. Suppose you have done any online transaction, then you will be afraid that there may be some fraud with you in this. Blockchain is used to protect against this fraud.
Through this technology, all your transactions are encrypted in a decentralized manner, which means your data remains end-to-end encrypted.
This is how to catch online fraud
When an online transaction takes place between two parties, a third party monitors the transaction. It confirms that the transaction has been done correctly. In this way hacking or cheating is not possible during the transaction. Meaning, this third party confirms that no fraud or hacking can happen.
Real-fake can be identified
We have often seen that people have a lot of difficulty in identifying the real or fake website. This happens because hackers or cyber frauds create websites with names similar to the original website for fraud. In such a situation, with the help of this technology, you can also identify the real or fake website.
: Language Inputs