Hello friends!!! Welcome to my new publication where I will try to explain the quick way and what is the block chain!
To talk about blockchain I have to talk about BITCOIN first.
BITCOIN is a digital currency that was born with the purpose of paying anything we want online with our PC or phone (If very similar to the method we already have).
You may wonder if it is similar to a bank transfer or payment per point of sale, to use it?
As we all know, bank transfers and point-of-sale payments can be made thanks to the banks' platforms where the whole transaction is registered along with our personal information (which we should trust to be confidential) through this intermediary service to them. they have a profit but as all the information that is greater every day is stored in a single company, the data can not be 100% safe. This is where blockchain comes in!
Blockchain breaks with all that scheme that a bank controls our transactions and creates a revolutionary way to control transactions where ALL are recorded in the account of all users at the same time as a result the fraud attempts are detected and the payment is rejected NONE PERSON WITH OR WITHOUT POWER IN THE WORLD can force the realization of an operation without having the amount is your wallet (wallet), which influences all this? in a cheaper, faster and PRACTICALLY INVULNERABLE system since in order to modify 1 single digit of the chain of blocks it is necessary to change that digit in the chains of the MILLIONS of users.
Within the blockchain there is something called "mining". This activity is based on using computational power to solve cryptographic problems and verify if the transaction you want to perform is valid.
let's see an example!
Let's say that user A wants to send 5 BITCOINS to a user B, that transaction is coupled with the transaction of other users and a BLOC is formed, this block is sent to the mining network for verification, all computers that are connected compete for verify first the veracity of the transactions. Once verified this is added to the blockchain (chain of blocks) where all the transactions of the history of the currency are, that updated chain is sent to all the users and will be used to verify the next block of transactions. The MINERS who first resolved the transactions are rewarded with fractions of BITCOIN called SATOSHIS (in honor of its creator SATOSHI NAKAMOTO).
Friends how can you see this is the future! Transactions can be made anywhere in the world in a matter of seconds and with unsurpassed security !!
PD: if they know that it is a BITCOIN WALLET or wallet they will know that the information is only yours and nobody else !! so the transactions are anonymous.
If you liked my post please vote and comment any questions you have! See you in a next post