Blockchain 101 Part A:)
Blockchain is a continuously updated record of who holds what. Its records are secured by using Cryptography. Basically Cryptography is a security which involves codes/maths to enable AUTOMATED TRUST. With that introduction, it's non-hackable and everyone will be able to know everything. For instance if someone tries to messes up with it or others tries to hack it, everyone sees it and it won't go through.
Nowadays Blockchain can be an assistant in all aspects of the internet world today. Just think of the acronym FITS.
FRAUD - It can help lessens it
INTERMEDIARIES - It takes away middle man/third parties
Note If it doesn't add value than why keep it?
THROUGHPUT - It can make it a decentralised computing
system
STABLE DATA - It can assist the data to remain the same
longer
Block Chain is already being used today such as STEEMIT, D TUBE (similarly to youtube), etc..
Most companies and even banks are looking into using it for their systems.
Keep a look out for the DAO which is an acronym for:
DECENTRALISED AUTONOMOUS ORGANISATION. The breakdown of this is :
Decentralised just means no central management
Autonomous means codes to run the company
Organisation means a big group with companies that's been created.
Please watch the video and be informed:)
