Blockchain technology its ethereum,applications and wallet and riot blockchain in 2025

 Introduction

         Blockchain is a decentralized digital ledger that securely stores records across a network of computers in a way that is transparent, immutable, and resistant to tampering. Each ˝block˝ contains data, and blocks are linked in a chronological ˝Chain˝. A blockchain is a disturbed databased or ledger shared across a computer network’s nodes. They are best known for their crucial role in cryptocurrency systems, maintaining a secure and decentralized record of transactions, but they are not limited to cryptocurrency uses. Blockchains can be used to make data in any industry immutable meaning it cannot be altered. Since a block can’t be changed, the only trust needed is at the point where a user or program enters data. This reduces the need for trusted third parties, such as auditors or other humans, who add costs and can make mistakes. Since Bitcoin’s introduction in 2009, blockchain uses have exploded via the creation of various cryptocurrencies, decentralized finance applications, non-fungible tokens, and smart contracts.

Ethereum

             Ethereum is a decentralized blockchain with smart contract functionality. Ether (abbreviation: ETH^[a]) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software. Ethereum was conceived in 2013 by programmer Vitalik Buterin.  Other founder includes Gavin Wood, Hoskinson, Anthony Di lorio, and Joseph Lupin. In 2014, development work began and was crowdfunded, and the network went live on 30 July 2015. Ethereum allows anyone to deploy decentralized applications onto it, which anyone can then use. Decentralized finance applications provide financial intermediaries like brokerages, exchanges, or banks. These facilities borrowing against cryptocurrency holdings or lending them out for interest. Ethereum allows users to create fungible (e.g. ERC-20) and non-fungible tokens (NFTs) with a variety of properties, and to create smart contracts that can receive, hold, and send those assets in accordance with the contract’s immutable code and a transaction’s input data.

Application of ethereum  

                                           These are many applications of ethereum. Some are follows:

Contract source code 

                                      Ethereum’s smart contract are written in high-level programming languages and then complied down to EVM bytecode, which is then deployed to the Ethereum blockchain. They can be written in Solidity as well as others. Sources code and compiler information are usually published on blockchain explorer websites soon after the launch of the contract so that users can see the code and verify that it compiles to the bytecode that is on-chain. ^{[citation needed]}

ERC_20 tokens

                  The ERC-20 (Ethereum Request-for- Comments#20) Token standard allows for fungible tokens on the Ethereum blockchain. The standard, proposed by Fabian Vogel Steller in November 2015, implements an API for tokens within smart contracts. The standard provides functions that include the transfer of tokens from one account to another, getting the current token balance of an account, and getting the total supply of the token available on the network. Smart contracts that correctly implement ERC-20 processes are called ERC-20 Token contracts, and they track of created tokens on Ethereum.

Non-fungible tokens (NFTs)  

                                       Ethereum also allows for the creation of unique and indivisible tokens, called non-fungible tokens (NFTs). Since tokens of this type are unique, they have been used to represent such things as collectibles, digital art, sports memorabilia, virtual real estate, and items within games. ERC_721 is the first official NFT standard for Ethereum and was followed up by ERC_1155 which introduced semi-fungibility, both are widely used, though some fully fungible tokens using ERC-20 have been used for NFTs such as Crypto Punks. The first NFT project, Ethereum, a 3d map of tradable and customizable hexagonal tiles, was deployed to the network in October 2015 and demonstrated live at DEVCON1 in November of that year.

Blockchain wallet  

                          A blockchain wallet is a digital wallet that users can to store and manage Bitcoin, Ether, and other cryptocurrencies. A blockchain allows cryptocurrencies and other digital assets to be transferred and converted back into the user’s local currency.

A blockchain Wallet Explained

                                     Blockchain ‘cryptocurrency’ wallet store user’ public and private keys while providing an easy-to-use interface to manage crypto balances. They also facilities cryptocurrency transfer over the blockchain. Some wallets even allow users to connect with decentralized application or purchase and trade crypto assets. When using a blockchain wallet, it is important to bear in mind that blockchain wallets do not store cryptocurrency in the same way that physical wallets hold cash. In other words, cryptocurrency transactions take place by sending ‘Tokens’. This means that when sending tokens, you are using your private key. To sign the transaction and broadcast it back to the blockchain network. As a result, wallets read the public ledger to detail the balances and also hold the private key that enables the user to make any necessary transactions.

Riot blockchain

                     Riot blockchain, together with its subsidiaries, focuses on bitcoin mining operations in North America. It operates through Bitcoin Mining, Data Centre Hosting, and Electrical Products and Engineering segments. As of December 31, 2021, it operated approximately 30,907 miners. Does Riot Blockchain have any interest income? YES, Riot Blockchain does have interest income. According to the company’s latest annual report for the fiscal year ending Dec 31, 2024, Riot Blockchain reported revenue of $ 403,824,000 and interest income represents 6.73% of the combined total. It’s worth nothing that some companies may report additional interest income as part of their revenue. The shariah compliances status of Riot Blockchain stock is reviewed on a regular basis, with a minimum frequency of once per quarter.

Conclusion

             Blockchain technology is revolutionary. It will make life simpler and safer, changing the way personal information is stored and how transactions for good and services are made. So, far, we have learned the technology behind this new age of cryptocurrencies. But the blockchain technology itself is quite new, and a lot of developments are still work in progress across the world. To stay updated with such dynamic changes, one should be aware of these updates every now and then. In this module, what you have learned is the ABCDs of blockchain; you need to learn a lot more before you start investing in such asset classes. From the time of inception, Blockchain technology has gained considerable attention among researchers and technocrats due to its mind-blowing application potential in a variety of real-world scenarios. The future of computing world would be definitely disturbed by the blockchain technology with its exponential potential supporting the growth of smart, resilient, trust-free decentralized applications.