What is BLOCKCHAIN?

[Mwangi 5611]

Am not really sure about what this is going the truth is we need to work ad had and put together everything in the right direction the best thing is to work and put together  a good advice on the same and bitcoin and block chain is a problem, there is a huge a problem thats the truth  we need to really be sure about what is happening

[Dormilon 2183]

On 10/3/2020 at 1:13 PM, Albany1209 said:

BLOCKCHAIN is a technology used mainly in the cryptocurrency financial industry, but that could be used in many more areas, it stores encryption and tracking information in its chains of a transaction or record in a public and secure way through the blocks that have an identification. or hash, (hash, is a unique number of each block to connect with each other with certain information), and thanks to the miners that make it possible to maintain this network with multiple computers connected to each other that have the same exact copies being unalterable and incorruptible said information generated in the chain (blockchain registry)

@Albany1209   Blockchain technology is much mentioned in recent years, it has become very famous as a magazine or television model, talking about cryptocurrencies if mentioning this part of the system that makes it up is unthinkable.
Allowing the transfer of data in a secure and immutable way is something we all want, having to use several nodes to intervene without having a single entity that predominates in it, makes it decentralized, not being able to change any data but only add is what I eat accounting part becomes auditable operations that are under its domain and therefore transparent and verifiable by others.
In conclusion, a simple concept of blockchain is that it is a technology that allows the transfer of digital data with a very sophisticated coding and in a completely secure, auditable and transparent way.
As its name indicates, it is made up of coded blocks that contain information, which must be verified to be true.
In the following link you can read a good article about blockchains so that you can increase your knowledge of this field. https://www.imnovation-hub.com/es/digital-transformation/que-es-blockchain-and-how-funciona-esta-tecnologia/

[scorpiali 5626]

It's a simple definition about the blockchain and how it work without complicated term and words ,all new users in crypto currency world need to know that and more about this beautiful technology it's a future of the new economic system 

[twinkle 0]

oh wow, this is such great question. by thr way i knew about that, but how much i knew was not that much that i come to know at your post's comments.. really crypto talk is so usefull for me.. now i am able tell others about blockchain, i have enough knowledge now about it.. in short blockchain is a director of whole picture.. everything is performed under his direction..

[Omar Ommeish 4872]

Blockchain technology is used in many fields and I think that its first use was in cryptocurrencies, but today I find many institutions that rely on it, such as car companies or hospitals in some countries.

[entrepreneur 634]

Cryptocurrencies are based on the blockchain, so there is a big importance of the blockchain technology. I would even go to say that it's one of the best inventions of this century in my opinion.

[jaclyn 622]

Really thank you, I was looking for this more information on that, and now I got it from your post. I hope you will continue to publish such valuable and useful information for everyone, especially for beginners.

[Gorge 510]

Hey!Blockchain is the technology or  we say a platform where someone can transaction of the cryptocurrency in a completely secure way. You can also transfer data by blockchain. For example Bitcoin has its own blockchain for transaction.

[Jair Mogollon 81]

Nowadays the term blockchain has become widely known, but basically it is the technology that is behind the virtual currency (bitcoin, litecoin, among others), but it can be separated to be able to do other things with it, an example of it , is to create other cryptocurrencies (virtual currencies that can be exchanged to other currencies), which are based on the same principles, but will have other priorities when changing the algorithm or monetary policy.

 

The blockchain can also be used for other types of value representation, it is what we can basically say is a token, which can be used for a service.

Edited October 28, 2020 by Jair Mogollon

[Reyba 175]

Blockchain is literally just a chain of blocks, we are talking about digital information, the “block”, stored in a public database, the “chain”. Blocks may store information about transactions like the date, time, and dollar amount of your purchases, the participants on it, and information that distinguishes them from other blocks, which refers to a code called "hash".

[Michaelx018 0]

When related to Bitcoins, a blockchain technology enables the miners to mine new Bitcoin blocks. This way there could be huge increase in the number of Bitcoins. So most new cryptocurrencies which includes coins would be backed by by this blockchains that enable it to function efficiently. Any user can make use of this blockchain to mine new cryptocurrencies such as Bitcoin.

[Alhossain Hassan 10]

Even though I read about this so many times , I still feel like I understand AND Don't understand at the same time. I understand the general idea, but I can't imagine the real process, probably because it's really complicated m

[Zafarwaheed 0]

16 hours ago, Omar Ommeish said:

Blockchain technology is used in many fields and I think that its first use was in cryptocurrencies, but today I find many institutions that rely on it, such as car companies or hospitals in some countries.

Block chian technology is an amazing app which is used for buying and selling the Bitcoin coins and also other coins . And it's a technology now using in the every section of exchange bilut firstly it was used in the crypto currency. I am also using block chain because it's personally is secure and you can Dela with everyone.

[han4036 307]

All the new users of the cryptocurrency world need to know more about this and this beautiful technology. It is the future of the new economic system and it has a lot of application in today's worldA simple definition of how and how it works without complicated words and sounds and blockchain is a big field and there is a lot to learn in it and I think cryptocurrency is based on blockchain technology.

[Irungu 4299]

Am not really sure what is happening here, so the truth is we need to really put together we are able to work as hard and the good things that work in blockchain the work is really working perfectly, so the truth is am not really sure that we can use. the work is to make sure that we understand it and this is a home work that am going to check well

[hatambaba 1064]

Blockchain is a transparency ledger, its meant that we can see the all transaction but we can't do anything with transaction for security. it is a new application mode of computer technology such as distributed data storage, consensus mechanism and encryption algorithms.

[riazpakistani 911]

Blockchain is the new technology that consist of spread which contains the information about the transaction. And each transaction make/generat hash (#). 

And as the new transaction made the previous one become the part of it.

In easy words we can say that as the new transaction made come under the previous one.

[Noghran 0]

Thank you for this valuable information, my friend!
Please go on writing this type of post that helps us to get to know the world of cryptocurrencies.
Before reading the post I thought the blockchain was just a wallet and now my information has increased dramatically
This is thanks to your help.

[Ruhaa 1009]

Blockchain is the decentralized popular technology where we can securely buy, sell cryptocurrencies. In Blockchain each blocks are secured with the data and they are bound to use cryptographic principle. This has succeeded in attracting many investors. Hacking is like impossible because all the data are kept in the ledger.  

[MARAMBEN 278]

I have used the Blockchain wallet, it is wonderful, easy to use in terms of transfer, and safe at the same time

[almamunany 69]

on my opinion blockchain wallet is very good for transition and safe and easily undersatand process of transfer. And it will permit to you to control how well the money is invested and the fees are also low. I would like thanks for  information. 

[bhaiegoo 1517]

I want to describe blockchain according to my knowledge about it that blockchain are two words,  first is growing number of block and each block have transaction information and which is linked called chain so blockchain is technology of recording information and defeat the cheaters ( hackers) and make secure system for their users. 

[Sid01 53]

Thanks brother for the information. Guys like you are so helpful for people like us( beginners ). The information that you guys shares is helpful for beginners and all the others  

[velasco19 1753]

You are right Blockchain is defined as a large book where information that is immutable is stored, actions carried out on the network can be monitored in a transparent way and it is open to all users, currently only its use is seen in cryptocurrencies, but I hope that in a few years there will be applications for different sectors.

[Quickbee 26]

Block chain is a very useful technology and used in many forums and in the world of computers. It can be also used for mining purpose. It is a collection of computers on a network