Is blockchain an existing machine or an idea that can be allpied?

[nishad1234 20]

On 3/15/2020 at 12:53 AM, teminalibug said:

We always talk about bitcoin been a technology, but i never thought of this that i did not real know what is blockchain.

This is what i know so far;

• Blockchain was used to create the first digital currency with cryptographic tech (Bitcoin)
• It can be used to make smart contrasts.
• And it can be used to more than that,. more than in just cryptocurrency.

Here is what i dint know;

• Is it like an existing open choice tech that can be used to make those certain of things like cryptocurrency or it is an idea?

Tell me what you know about what i don't know.

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.

[Michael0606 861]

Like the blockchain technology is encrypted, I also have the doubt whether or not this technology can be copied, although networks such as Ethereum Erc20, Tron TRC20 among others have the components of jna Blockchain but it is original of a currency.

[Enrique77 50]

On 3/14/2020 at 3:53 PM, teminalibug said:

We always talk about bitcoin been a technology, but i never thought of this that i did not real know what is blockchain.

This is what i know so far;

• Blockchain was used to create the first digital currency with cryptographic tech (Bitcoin)
• It can be used to make smart contrasts.
• And it can be used to more than that,. more than in just cryptocurrency.

Here is what i dint know;

• Is it like an existing open choice tech that can be used to make those certain of things like cryptocurrency or it is an idea?

Tell me what you know about what i don't know.

People associate the terms "blockchain" and "cryptocurrency" and sometimes the synonymous terms. Blockchain is much more than the technology behind bitcoin and other cryptocurrencies.

Blockchain technology is a distributed data system that enables an online list of transactions. Through cryptographic processes, this list is simultaneously copied to thousands of computers in what we call the distributed ledger system.

[Cryptic 0]

Blockchain is a program made for securing some transaction because it has a complex algorithm that until now, no one had been tampered it at least once, that's why I think it would be a best tool to keep your personal information not just making transaction safe, and it has no physical form only digital or virtual one.

[isther69 521]

Each block has a specific and immovable position in the chain, because each block has data about the hash of the previous block. The complete chain is stored in each node of the network that makes up the blockchain, for which an accurate replica of the chain is stored in all competitors on the network.

[caeb2009 154]

On 3/14/2020 at 10:18 PM, kyoukage01 said:

If I go by its description, that is, blockchain being an open ledger that is stored on and can be accessed by multiple computers (https://en.wikipedia.org/wiki/Blockchain) then the idea behind it is not new. For an example of a tech that exists before Bitcoins and blockchain, the closest recent computer innovation that I can think of at the moment is the technology behind Bittorrent, which similarly uses data stored in multiple computers and can be downloaded by other devices via a software that makes use of said technology.

 

the unsafety of is technology would be one of your mains problems?. What is you opinion about this???.

[Rosarvx 965]

Blockchain is the most basic part that actively promotes, existence is an amazing feat in handling money

[percare 3192]

The blockchain is an open ledger and that is a database. It contains blocks of information of a certain size. In Bitcoin these blocks are 1mb and contain transactions. In other forms they can be whatever size it is decided and they can contain whaever data needed. They are chained together with cryptographic hashes meaning that they are chained with encryption that can't be broken by anyone. This is the importance of the blockchain. You can't go back and change a block. It is immutable. But this when it is decentralized. A blockchain that is centralized is not secure.

[kryptonick 2659]

Blockchain is a better system of databases that is open source and secure. If performed as in Bitcoin it can help in many ways but as we have seen from altcoins there are some blockchain systems that can be under control and not as reliable as Bitcoin. Every technology can be used in a wrong way and we shouldn't make the mistake to think that blockchain can be applied correctly by everyone.

[sarahmoses202020 251]

Satoshi created the blockchain and it houses a lot of technologies like smart contracts and dapps. The blockchain is a technology that makes crypto currencies possible. It also stops double spending and some of the issues we have in the financial sector. It is a revolutionary technology that we all need to embrace.

[Sykkuno 2887]

The blockchain is what it is. It is code an as programming code it can be changed and applied to anything accordingly, so it is now used anywhere possible that helps with efficiency and can create better results from the previous systems used.

[BrolySSJ 7899]

If i am not mistaken i read an article that showed that the blockchain was actually created in the early 1990s, years before the invention of bitcoin and other crypto. So if you are referring to its uses in this topic then i think that the uses are vast. In fact there are many companies that make use of it as a way to notarize documents or for safe keeping and recording. Also it is a very secure system that has a lot of discreet advantages which is great as well, and hence why it is so popular in and out of crypto. In my opinion, with time as technology proceeds, the notion of blockchain will definitely be amplified to something even greater. 

[cryptovlek 2597]

Before you ask how we can use the blockchain and if it is and idea or a machine you should find what it is. There is knowledge about the blockchain spread everywhere and making assumptions is not important as you could easily learn what it is and how it works before you made this post. Because you don't know it doesn't mean you should tell us what you do and don't know. Read and learn, this is a core concept and you should do research ASAP.

[Fixfin 2569]

To anyone that doesn't know what the blockchain is, here is what you should begin with:

https://en.wikipedia.org/wiki/Blockchain

After that you should read the Satoshi Bitcoin whitepaper that also explains the blockchain and then you can start asking about the implementation of blockchains in other fields besides cryptocurrencies.

[Khan 1414]

On 3/16/2020 at 8:02 PM, SuperCrypto said:

Blockchain can store various types of data, such as: cryptocurrency transaction details, land registry contents, insurance records, health history, vehicle accident history, title changes, etc. It can also act as a platform for other applications.

 

 

True as the blockchain is now on the top wallets list and is secure then others. There are also many courses introduced to learn the blockchain technology.

[Abdulrahman3 1252]

Blockchain is the thing that made digital currencies so important, which is the thing that made them significantly different from fiat currencies, because in digital currencies transfers are sent to all computers, leaving no room for tampering with numbers or fraud.