Good afternoon dear steemers.
Many times we are looking for information about the world of cryptocurrencies, it is a rough world full of surprises, in which we always find terms that we often do not understand, such as the blockchain theme.
To explain this term we need to focus on an example: For this example we will use two common names like Luis and Alberto. Let's say that Luis has $ 100 in his personal bank account and he wants to transfer those $ 100 to Alberto's bank account, so we have several factors that affect the transfers, which are: The transfer time (in the case of a bank to another bank), the commission for the banking use for the transfer, the time of the transfer. Now Luis's bank is in charge of taking Alberto's banking information for the transfer, acting as an intermediary, where the bank not only handles the transfer of the money, but manages the information of that transfer, something that Luis and Alberto have no idea of the process. what it takes to make this simple transfer. Now the BlockChain avoids all this cumbersome process because it is a system of blocks where the user does not depend on an intermediary to transfer currencies, the BlockChain makes an almost direct contact of the users in their processes giving as final result the execution of the transaction , in less time and in greater efficiency. Currently the BlockChain facilitates the movement of currencies such as cryptocurrencies in the world.
How does BlockChain work?
The process is relatively easy, transparent and reliable.
Alberto wants to send Luis 1Bitcoin, then the transaction becomes a block where several users, called ** nodes **, in charge of inspecting the transaction (here nobody knows that Luis is Luis and Alberto is Alberto) everything is handled with figures , once the transfer is approved, the bitcoin is added to the process chain that provides an indelible and transparent register to later reach the hands of Luis.
This process is much more difficult and complicated to explain, but it is very simple and very fast to tell the truth. Therefore, in my opinion, it is a good alternative for the movement of electronic currencies and to facilitate our work in the critomundo.
# HailBlockChain
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