For beginners :)
The āļø blockchain āļø allows these digital assets to exist because it solves one of the fundamental problems of creating a numerical value: duplication. š¤
(It is already applied in universities to avoid duplicates of duplication exam results). Digital content is easily reproducible; The music industry learned it at its expense.
š !!! What is reproducible easily has no value.
Certainly, the numbered print has been invented to render "value" to an "image" easily reproducible only the first outs have value.
š ļø The creative designers of the bitcoin invented an electronic numbering mechanism: āļø blockchain āļø
The protocols used by this technology (called "consensus protocols") make it possible to ensure:
- That a digital inscription remains unique (it can not be spent twice - "double spend")
- That the medium on which it is inscribed (the famous chain of blocks) can not be altered - (or at least that this alteration is visible and its cost strongly deterrent.)
In practice, if you have a crypto - that is, if you are the holder of a private key to which is associated a balance of this crypto - you can by sending transactions to the blockchain of that crypto move it , Give it, sell it; But you can not duplicate it, that is to say spend it twice: if you send two sending transactions on the same crypto, only the first transaction inserted in one block will be processed, the other will be considered by the Participants as invalid (car bearing on a crypto already transferred) and therefore rejected by the network.
Thank you for your attention :) <3
