Here are some blockchain details and information. Everyone needs to know about. We have put together some useful information. To help you get up to speed on blockchains. And what it’s all about. All the details are below. For those that want to be in the know. As you go through the material. You will have a better understanding. If you refer to the movie, The Matrix. We think that will help you get a grasp of what this is all about. Keanu Reeves would be the security. Traveling through the web. Protecting the blockchain.
First of all. Blockchain is a digital ledger of economic transactions. The programming is done to record financial transactions. This device. Is the safest. And most secure on the planet.
To make things easier to understand
- Blockchain. Is a large. Global and decentralized spreadsheet. No one system is the “Central” authority.
- Keeps track of who sent how many coins/tokens/information sets to whom.
- In the case of Coins/Cryptocurrency. It keeps track of all your balances stored throughout the system.
- Stored and maintained by thousands of people (called miners). Across the globe. Who have “special” (high powered and uniquely configured) computers.
- All individual transactions sent from places like My Ether Wallet, Meta Mask, Exodus, Mist, Geth and Parity. Are contained within that block chain. And are sent and received through the blockchain. .
- When you access your Cryptocurrency Balances. With any of the Blockchain Wallets. You are seeing data on the blockchain. Not just from one personal system.
More blockchain details. And it’s Benefits
Blockchain. Brings everyone to the highest degree of accountability. Resulting in:
- No more missing or corrupted transactions.
- An end to human or machine errors. No more corrupt or broken databases.
- An end to transactions or exchanges (made in error). Without the consent of the parties involved.
- Blockchain. Guarantees the validity of a transaction. By recording it. Not only on a main register. But also on a distributed network of registers. All of which connect through a secure validation
Blockchain technology. Is referred to. And explained best. By considering it Internet 3.0.
Blockchain is simply an ingenious invention. The main question everyone is asking,(and we are here to help explain); is: What is Blockchain?
Blockchain technology. Created the backbone of a new type of internet. The internet has evolved. To where it is better for everyone globally. Originally devised for the digital monies, Bitcoin. The tech community. Is now finding immediate and potential uses for the technology.
The recent proof of Bitcoin. And the creation of blockchain. Has proven to be just that. To date. The total value of the currency is close to $350 billion US. And it doesn’t stop there.
Blockchain details. Don’t need to be fully understood. To be used by all:
You don’t have to know how blockchain works. A simple understanding of this new technology. Will help you understand why it is considered revolutionary.
A distributed database:
To put it a simpler way. Picture a spreadsheet shared thousands of times. Across a vast network of computers. Blockchain. Is designed to update those spreadsheets. Every time a transaction occurs.
Some of the benefits to this process and functionality include:
- Information held on a blockchain. Exists as a shared. And continually validated and reconciled database.
- Blockchain database. Isn’t stored at any single location. Meaning. The records it keeps are truly public and easily verifiable.
- No centralized version of this information. Exists for a hacker to corrupt.
- Hosted within millions of computers. The data is accessible to anyone on the internet.
- Ultimate Security and Transparency.
Blockchain Durability and Strength
Blockchain technology. Is similar to the internet, in that it has a built-in strength. By storing blocks of information that are identical across its network; the blockchain cannot:
- Be controlled by any single entity.
- Has no single point of failure.
- Be corrupted or embezzled.
Blockchain details on being Transparent and incorruptible:
The blockchain network lives in a state of constant consensus. Automatically checking itself every ten minutes.
The network reconciles every transaction that happens within ten-minute intervals. “Block” refers to a group of transactions. Here are two important properties created by block chain:
- Transparency: Data is embedded within the network as a whole, by definition it is public.
- Un-corruptible: To alter any unit of information on the blockchain. You would have to use a huge amount of computing power. To override the entire network. Something, virtually impossible. And becoming a larger and larger barrier constantly.
A network of nodes
A network of computing “nodes” make up the blockchain. A node is a people based intelligence platform. That delivers a road map for market identification and revenue acceleration. Together they create a powerful second-level network.
Nodes and their role in the first blockchain example: bitcoin.
Every node is an “administrator” of the blockchain. Joining the network voluntarily. Creating a decentralized network. Everyone has an incentive to participate in the network. With the chance of receiving Bitcoins (competing to solve and be verified as a solution). Proof that it works. And creating the “minted” blockchain of information. Obtaining a specific amount of bitcoins. For the completed block in the blockchain.
This means that anyone who joins increases their amount of bitcoin. Just by doing everyday things on their computer. If you are constantly on your computer. You are generating cryptocurrency. That’s it. No one can see what you have generated except you.
Just as the internet used to be a way to share “emails” and information. It grew into massive commerce jobs. And revolutionized the industry. Much like the internet. With blockchain this is already happening again. Evolving to the next level of technology. Based on decentralized solutions and “truth”.
There is an ever growing amount of (Bitcoin-like) cryptocurrencies. Already available. And there is a wide range of other potential adaptations. Of the original blockchain concepts currently active. And in development. There are no barriers. The uses and deployed solutions. Will be a part of our everyday lives. Now and in the immediate future.
The idea of decentralization.
Blockchain moves control of the organization. From one place to many smaller ones. As originally created to do. Anything that happens within the blockchain. Is a function of the network as a whole. Hence, some important implications are now realized by this:
- By creating a new way to verify transactions. Aspects of traditional commerce could become unnecessary.
- Cryptocurrency and ICO/Token trades. Become almost simultaneous on the block chain. Realizing a Global economy of trade. Operating 24/7/365 with no market opening or closing.
- Vital record keeping. like a land registry. Is now fully public.
- A global network of computers. That uses blockchain technology. To jointly manage the database. That records structured transactions. Making information up-to-date and available at all times.
Managed by the blockchain network. Not any one central authority. “Decentralization” means the network operates on a user-to-user basis. This creates “truth”.
Who will use the blockchain?
Currently, finance offers the strongest use cases for the technology.
Jobs and Careers are abundant in the blockchain. At the moment there is a high demand for blockchain developers. This is not going to slow down. Implications for evolving into the blockchain is relevant for virtually everything.
Blockchain cuts out the middleman for all types of transactions. With the addition of generating new methods. New monetary gains have been created.
Access to the financial sector. And use of blockchain cryptocurrencies. Became accessible to the general public. With the invention of “wallet” applications. These were first used by people to buy things with Bitcoin. And to be able to store and access it along with other cryptocurrencies.
With the many things and industries created by the blockchain. It creates a huge need for compliance, identification, and verification. Coinbase is the leader in blockchain compliant solutions and the user “wallet” for cryptocurrencies.
Enhanced security
Security, validation and “Truth” offered by blockchain is revolutionary. And necessary for total global solutions in all sectors. By storing data across its network. Blockchain takes the risk out of data stored in a central location.
Today’s internet has security problems. That have plagued all of us. We all rely on the “username/password” system. To protect our identity and assets online. Blockchain security methods use encryption technology. I’m sure that a lot of you have run across this new technology. When trying to sign up for some new program or account. This is just another of blockchains massive security.
Methods of encryption known as public and private “keys”. A “public key” is a users’ address on the blockchain. These values are sent across a network. Recorded as belonging to that address. The “private key”. Is like a password that gives its owner access to their Bitcoin. Other cryptocurrency, and other digital assets.
Methods for safeguarding include:
- Printing it out. Creating what’s referred to as a paper wallet.
- Cold Storage Solutions. (As in a Trezor) Allow you to keep your “Public Key”. And its contents with you. As you access them from the blockchain. In a safe location with built in and secure recovery points. Click on the Image to order one today.
A second-level network:
With blockchain technology. The internet benefits from a new layer of functionality. Bitcoin transactions in 2016 averaged over $200,000 US per day. With the added security brought by the blockchain.
New internet businesses are on track to completely disrupt the traditional institutions of finance. With that said. To really see how much it has grown. Go here for the latest in Market Cap
As published in 2017. Goldman Sachs believes that blockchain technology holds great potential.They claim it could represent global savings of up to $6 Billion per year.
As published in 2017. Goldman Sachs believes that blockchain technology holds great potential.They claim it could represent global savings of up to $6 Billion per year.
Become a Miner of Cryptocurrency.
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In conclusion
This can be a lot to take in. We invite you to bookmark this page and come back for more information, or to review this information. The information provided will only increase your appreciation for this education on block chain. Stay informed as we grow in this new adventure together.
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Family Security
We can only tell you that we are in this. And it would not be on this sight if we didn’t believe in it. We wanted to share this with as many people as we can. In the ever changing world of the internet this really is a good deal. For a lot of people, this might be hard to understand. Our way of looking at this. This is going to be the future.
We have to go forward and accept what is happening. Life has become more secure when it comes to your finances. Government control of our finances is a thing of the past. We have a once in a lifetime chance to secure our future. More importantly. Secure the future of our children. That is what drives me personally every day. I want my children and grand children to have a better life. There are a lot of opportunities with blockchain. And we invite you to take advantage of as many as possible. Most of these opportunities are free.
If you would like to learn how to get started. And receive free bitcoin. For doing almost nothing. Absolutely 100% free. You can start by checking this out. Or by signing up on the right of this page. For our newsletter. And we will send the information to you. By doing this. You will accumulate @ 0ne-hundred or so dollars. And not spend a dime.
