Short story about Blockchain.

[Wanderdark 2178]

Hi there mate. Although I hate these kind of encyclopediac information about many techinal details and history of the bitcoin, you seem to succeed in simplifying it and made it interesting. I thank you for your interesting post. Have a nice evening 

[Nenomao 175]

I am glad to read story that you shared brother about blickchain I only now about it that this one is wallet in which we can store our curriencies and by this wallet we also can exchange our currency into another curriency. 

[Omar98 916]

On 12/19/2020 at 4:31 AM, Arsal malik 759 said:

Thanks for sharing a great topic, Blockchain is very important part of cryptocurrency that will surely that your money is safe and cannot be broke by everyone. Its a matter of how being responsible you are in holding your accounts or money in Cryptocurrency. Be careful and Good luck...

Of course, Also you should know that Blockchain is not only used for cryptocurrency but there are a lot of uses that we can use the Blockchain for. For example, we can use Blockchain for smart contracts, death and born certificates, Driver license and much more, it depends on how we want to use it and for what.

[jack88 427]

According to what my friend said on the web, this technology is very famous and well-known, and people were attracted to it after knowing the value of Bitcoin, which encouraged people to deal with such currencies and the wider spread of this technology. Thank you for your participation.

[Browser 641]

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

[Omar98 916]

On 12/21/2020 at 7:39 AM, Nafson01 said:

Blockchain technology is a current technology that intensely facilitated the trade between the peddler and the buyer, and it is a progressive technology organized for the prospect anywhere currency preserve be transferred in safety in a terse phase and it in addition ropes the privacy security attribute

 

That is true my friend, But an important thing that we must know is that Blockchain is not used only for money data but we can implement it in any aspect of life that we like to in order to make it able to serve us depending on our needs like to store in it our date and death certificates we should know the variety of its uses in order to be able to get useful methods from it.

[TimopheyKa 3900]

Like for a high-quality article, friend! In fact, the blockchain has an extremely interesting history, and if it was less relevant before, now it is beginning to have a high demand! It is beginning to be used in various fields, as well as in many jobs. By the way, many people think that the blockchain appeared in 2009, but as I heard, I was told that it appeared in the 80s, and was a development of the USSR, which was actively used for some actions, I do not remember exactly 😉

[Baba g Sialkot 527]

Blockchain is the main part of digital money and it is generally excellent we have begun understanding the significance and application in different territories like account, information the board, the straightforwardness, the security and protection.

[Iman33 0]

Thank you for sharing with us this important and useful information about blockchain. This technology has great advantages because it is safe, reliable, and can be used easily and freely.

[Omar98 916]

On 12/30/2020 at 12:39 PM, yurizhirkov said:

Thank you some much for this history about blockchain bwhich you decided to call a short story. It is really important because it contains alot of vital informations that someone really needs to about what blockchain an it's creator as well

You are most welcome. I think that all members in the crypto world should understand such words like Blockchain and other things in order to be aware enough about how things are working around them so that they can work better and make more money. 

I believe that if someone wants to work on something he/she should know enough about it.

[Angeln20 513]

You've just analysed it all and what I like  more about blockchain technology is that it's record informations in a way that makes it very difficult or impossible to change,hack or cheat the system.

[godislovefll 1880]

It is something exciting to see how powerful this was in its beginnings and its purposes which are still standing and still maintain, its content is very complete, I have left a +5 due to this, I have been so excited to read again regarding the beginnings of BTC and blockchains and simply thank Satoshi Nakamoto for such an invention.

[Rosen 103]

Blockchain is a easier and safe, faster transfer between countries.  Blockchain is the best way and now we are lucky to give up another site. It proves it's security everybody should understand more.

[jappy 1129]

Without a doubt that Satoshis was a genius or is a genius, it is something that will simply become more popular every day because it is something really incredible that many world banks must use it to improve their security without a doubt this was a revolution that greatly benefited us users.

[yulitzacalvete 1366]

Its content is very complete, it really is something incredible and little believe that cryptocurrencies have their base called blockchains and that these are the most important thing before cryptocurrencies, it is something amazing.

[jnbezchess 1066]

On 1/6/2021 at 5:59 PM, Abdullah101 said:

I have a question that baffles me that who owns the most bitcoin? Because the amount of Bitcoin on the trading platforms represents approximately 30%, while the rest of the amount is distributed among the miners who hold it, but there is a large amount unknown who owns it.

@Abdullah101 I once read a news that says Satoshi Nakurma owns a large amount of Bitcoin and there are other people who own a lot of Bitcoin, but they do not move it and never trade it. Possible as the bitcoin price increases, they will start to trade it.

[Jhujhu 62]

Thank you so much for coming up with such a topic and sharing it with us.  In fact, I don't have enough information about him.  I hope the experts will help you.  So whatever you do carefully then you can get some profit.

[Chakomakasi0123 52]

Thank you for bring this question up ,to my understand of block chain is a new technology that peoples use easily without waist much of their time rather than go to some long process like before.

[Nayeem1312 743]

Thank you for your information friend. I didn’t know about it before. So your post is very helpful for me. It is very important for all of us. So i hope you will keep sharing such as information with us.

[Abd Rehman 93]

On 11/13/2020 at 12:24 PM, Omar98 said:

 

 

Before 2009

we were living in the era of the Internet of information. This era helped billions of people all around the world to communicate with each other. But when it was first designed it was not designed for peer-to-peer payments. 

 

Then suddenly something new happened.

In 2009

When someone named Satoshi Nakamoto

lunched something he called Bit Coin.

Which is a peer-to-peer electronic cash money system.

 

In search of trust protocol and amid the market meltdown, Satoshi Nakamoto outlined the 

Blockchain Technology.

 

We call Blockchain 

THE TRUSTED PROTOCOL.

 

It was made for people who do not know each other and with no reason to trust each other. This Protocol do two main duties.

1- Preserve the integrity of people transaction.

2- It is not through powerful intermediaries( like banks ) it is through mass collaboration, cryptography and clever codes.

 

And the main question comes here, What is Blockchain ??

 

 

Blockchain is the technology behind digital currencies (Cryptocurrencies) like Bitcoin.

It is an open source code, anyone can download it for free, run it and use it to develop new tools for managing transactions online.

It is a protocol not a product, it is a chain of blocks.

 

Big banks and some governments are using Blockchain to revolutionize how they store information and conduct transactions.

Blockchains have an interesting property: once some data has been recorded inside a blockchain it becomes very difficult to change it.

 

Lets take a closer look at a block from a blockchain.

Each Block consists of three main elements:

1- Data.

2- Hash of the block.

3- Hash of the previous block.

 

 

And now, lets explain these three elements.

1- DATA.

The data that is stored inside a block depends on the type of the Blockchain. For example, The Bitcoin Blockchain stores the details about transactions such as the sender, receiver and the amount of coins. And the data that is being stored in the block could be different from a chain to another depending on the type of the Blockchain. 

 

2- Hash.

A block has a hash you can compare it to a fingerprint. It identifies a block and all of its contents and it is always unique.

Once block is created its hash is being calculated, and changing something inside the block will cause the hash to change.

 

Hashes are very useful when you want to detect changes to blocks. If the fingerprint of a block changes, it is no longer in the same block.

 

 

 

3- HASH OF PREVIOUS BLOCK.

 

 

This effectively creates a chin of blocks and it is that technique that makes a blockchain so secure.

Here we have an example of a chain consists of three blocks. Each block has a hash and the hash of the previous block. 

The first block is always special, it can not point to a previous block because it is the first block, so that we call it the GENESIS BLOCK.

 

If you tampered with the second block, or someone tried to edit the data in that block, this will cause the hash of the block to change as well. In turn, that will make block number three and all the blocks after the following blocks invalid because they no longer store a valid hash of the previous block. 

 

 

So that the answer of the following question will be:

 

Why to use Blockchain ??

 

The reason behind using Blockchain technology:

1- Provides faster speeds.

2- lower costs.

3- Greater security.

4- Fewer errors.

5- Eliminates central points of attack and failure.

 

I hope that this information could help newbies to learn more about Blockchain and how it started.

And please support me with your information.

 

 

 

Dear you provide a great information about blackchain how it become what is the reason of making and how it's work after that I was a little knowledge about this but now I m able to tell someone about this.

[Haydara 180]

Greetings to you my dear friend, this article is very important and contains many useful details, thank you for this good topic

[Meher Ali 20]

This is a superb subject matter I must confess because it has correct information we all want to realize specifically the newcomers who are new to the cryptoworld. Blockchain is superb for the development of the Cryptocurrency network and this is why it has earned correct recognition from many people around the world as it has made the Cryptocurrency world impregnable.

[Malik9532 1276]

Thanks for sharing your experience with us my friend   and blockchain is good for crypto currency and it's system is safe and secure  and you can earn bitcoin by using blockchain technology .If I am wrong my friends then correct my mistake .

Edited January 24, 2021 by Malik9532

[M Shahmeer 331]

Well done 

You have shared so much excellent knowledge 

Bloch chain is very good system through which we can transfer our currencies from one country to other countries 

It provides very fast speed 

Its charges are also very low 

Its good and trustfull to use 

In pandemic people used this service so much 

[Rozy 1918]

Such an insightful topic, I really enjoyed reading it and like the slimily of hash to the fingerprint, and it is very important for every crypto trader and every member of this forum to know these information, some people join here and they are after money without really paying attention to such details , but if you really want to win you have to understand the underlayer of all the crypto system.