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[Yojana Archive] Decoding Modern Tech Terms

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In this article, we shall discuss some very popular and important modern tech terms.

This is just an introductory article. All these technologies will be discussed in detail in subsequent articles.

Blockchain Technology

  • A system whereby information about transactions is stored on a countless comuters spread across the glob.
  • It is considered an alternative to the conventional banking system.
  • Along with banks, this also applies to mobile payment system.

NFTs

  • The success of Blockchain as an independent means of storing and authenticating information has created many more inoovations, one of these is Non Fungible Token or NFT.
  • Here the information is stored in the blockchain system itself, especially in a system called ethereum.
  • Under NFT system a kind of digital certificate is issued that such an original thing unique in the world.

IOT

  • Internet of Things or, more accurately the internet of devices, is all about connecting devices over the internet and letting them ‘talk’ to us, applications and each other.
  • This allows huge amounts of data to be collected and transferred, which can then be used for multiple practical purposes.
  • However, Internet of Things doesn’t necessarily have to be connected to the internet, it can also be a network of things.
  • A common example are wristwatches with sensors that can track the wearers’ heartbeat and pass on the information to our smartphones via bluetooth.
  • The smartphone can store that data on cloud after which it can be accessed at any point of time to view a report card of how your heart has been behaving for over a period of a week or a month.

Metaverse

  • A simplistic way to look at the metaverse is as a parallel, virtual, world where users can have different identities, possessions and characters.
  • In the complex explanation, Metaverse is supposed to be the post-Internet world, a decentralised computing platform of sorts if you will, which is continuous, and live.
  • It is an entirely digital economy, and the way most Silicon valley intellectuals see this, metaverse exists both in the digital and physical realm.
  • Virtual reality would be an element of this metaverse, but the idea goes beyond just donning a VR headset and starting to play a game.
  • According to Ball, the metaverse does not reset or pause or end, but “continues indefinitely.”
  • Metaverse is not something that just one company can build. Nor is Facebook the only one working on this. Epic Games, the creator of Fortnite, has big plans for the metaverse using its unreal engine.
  • In fact, Fortnite already has many elements which would conform to the idea such as live events, its own currency, etc.

Quantum Computing

  • The Quantum computing is much talked about because of its infinite power.
  • A Quantum computer can perform calculations millions of times faster than a normal computer, and that is why it can prove to be a boon for humanity.
  • Traditional computers work based on a fundamental unit of binary digits(0-1 Bit).
  • On the other hand the quantum computers adopts qubit(quantum bit).
  • The qubit value can be 0, 1 or both.

Artificial Intelligence

  • AI refers to ability of human beings to learn analyse think, understand, solve problems, make decision, etc, similar to human being.
  • Machines equipped with AI will become powerful and intelligent and compete with human beings capabilities.
    For example features like machine translation, voice-to-text conversion and voice assistance these days are reached to us because of AI.

Cloud Computing

  • Cloud computing implies using the resources available on the internet on your computers or devices.
  • Cloud computing has made vast computational power and storage space available to us, and technology like AI is required for its calculations.

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