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To help in the world of cryptocurrency, we provide blockchain details.  We offer useful information to help you learn more.  We know that a general understanding will suffice. The details are for those that want more.

So there are an every growing Bitcoin-like cryptocurrencies (exchangeable value tokens) already available. In addition, currently there is a full range of other potential adaptations of the original blockchain concept.

First of all, the blockchain is an incredibly brilliant  invention.  An incorruptible digital ledger of economic transactions, it is programmed to record financial transactions.  The brainchild of a person or group of people that we know by the pseudonym, Satoshi Nakamoto  it creates an endless and constantly up to date and accessible database.

Blockchain details do not need to be fully understood to be used:

Like the internet or your car, you do not need to know how the blockchain works for you to use it.  However, having a basic knowledge of this new technology helps you to understand why it is considered revolutionary.

Simple Blockchain Details

First of all, the blockchain is an incorruptible digital ledger of economic transactions.  Programmed to record financial transactions this a valuable system.

• It is a huge, global, decentralized (meaning no one system is the “Central” authority) spreadsheet.
• It tracks who sent how many coins/tokens/information sets to whom.
• In the case of Coins/Cryptocurrency, it tracks the balance of every account.
• Thousands of people (miners) who have “special” (high powered and uniquely configured) computers, store and maintain it across the globe.
• When you access your Cryptocurrency Balances on a Blockchain Wallet, you see data on the blockchain.  It is not in any one personal system.

More benefits to all of us:

Benefits are many. A decentralized system brings everyone to the highest degree of accountability. 

• It ends missed or corrupted transactions.
• It removes human or machine errors.  There are no more corrupt or broken databases.
• It ends transactions or exchanges (made in error) without the consent of the parties involved.
• The blockchain guarantees the validity of a transaction by recording it. It records on a main register and on a connected distributed network of registers.  It connects through a secure validation protocol.

A distributed database – let us explain even more:

In a simplified manner, picture a spreadsheet that is shared thousands of times across a vast network of computers. Whenever a secured and validated truth of any update is processed, this network is designed to regularly update this spreadsheet.  If you can grasp this concept, you have a basic understanding of blockchain.  Some benefits to this process and function include:

• Information held on a blockchain exists as a shared, and continually validated and reconciled database.
• The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable.
• There is no centralized version of this information exists for a hacker to corrupt.
• It is Hosted by millions of computers simultaneously. Its data is accessible to anyone on the internet.
• There is ultimate security and transparency.  Truth.

A distributed database-transparent and incorruptible

The blockchain network lives in a state of constant consensus.  Therefore, it automatically checks in with itself every ten minutes.  This is a self-auditing ecosystem of a digital value. The network reconciles every transaction that happens within ten-minute intervals. Each group of these transactions is referred to as a “block.” As a result, here are two important properties created by blockchain:

1. Transparency data is embedded within the network as a whole, and by definition, it is public.
2. It cannot be corrupted. To alter any unit of information on the blockchain means using a huge amount of computing power to override the entire network. This is virtually impossible and becoming a larger and larger barrier constantly.*

*In theory, this could be possible. In practice, it’s unlikely to happen. Hence, taking control of the system to capture Bitcoins, for instance, would also have the effect of destroying their value.

Nodes and their role in the first blockchain example: bitcoin.

Every node is an “administrator” of the blockchain, and joins the network voluntarily.  However, each one has an incentive for participating in the network.  It is the chance of winning Bitcoins (competing to solve and be verified as the solution), proving proof of work.  

The internet was once just a way to share “emails” and information.   Now it is evolving to the next level of technology based on decentralized solutions and “truth.”

The idea of decentralization

The blockchain is a decentralized technology, as it was originally created.  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 become unnecessary.
• Cryptocurrency and ICO/Token trades become almost simultaneous on the blockchain. 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.

The blockchain is managed by its network, and not any one central authority.  “Decentralization” means the network operates on a user-to-user (or peer-to-peer) basis. Therefore, this creates “truth” and possibilities from all forms of mass collaboration.

Who will use the blockchain?

Keep in mind, you do not need to know about the blockchain for it to be useful in your life. Like computers, they enhance everything around us with or without our functional knowledge of them.  Currently, finance offers the strongest use for the technology. 

Jobs and Careers are abundant in the blockchain.  A high demand currently exists for blockchain developers.  This is not going to slow down.  Therefore, implications for evolving into the blockchain is relevant for virtually everything.  Consequently, the blockchain potentially cuts out the middle person for all types of transactions.  

Enhanced security

Eliminating all of the risks that come with data being held centrally, the blockchain is secure. It is necessary for total global solutions in all sectors.  The blockchain lacks centralized points of vulnerability that computer hackers can exploit.

For example, today’s internet has security problems that plague all of us. We all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology.  Therefore Internet Security, along with almost all aspects of the Internet, evolve with blockchain.

These methods of encryption are public and private “keys.”  A “public key” is a long, randomly-generated string of numbers.  It is a users’ address on the blockchain. The values sent across the network are recorded with that address.  The “private key” is like a password that gives its owner access to their Bitcoin, other cryptocurrency, or other digital assets. When you store your data on the blockchain, it is incorruptible. This is true, although protecting your digital assets will also require the safeguarding of your private key.

Methods for safeguarding include:

• You create what’s referred to as a paper wallet by printing on paper..
• Cold Storage Solutions, such as a Trezor allow you to keep your “Public Key” and its contents.  As you access them it is in a safe location with built in and secure recovery points.

Do not feel like you are missing out! 

Do you want  to be a part of the future? Become a Miner of Cryptocurrenc in the easiest manner possible. You do not need to fully understand it or put capital at risk. Details are HERE for you.  You  can safely and securely use your idle Computers  to benefit and earn BTC. SEE THE DETAILS and START HERE.  You can create the possibility of generating wealth. 

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