This is one major reason that has led many into becoming victims of major scams . A lot of people in the Global economy have no Idea what Crypto is and what the other associates are ,so they are led to either forget or follow up and later forget because they lose their moneys. The few who do researches find these on Wikipedia " Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries." and " A blockchain,[1][2][3] originally block chain,[4][5] is a growing list of records, called blocks, which are linked using cryptography.[1][6] Each block contains a cryptographic hash of the previous block,[6] a timestamp, and transaction data (generally represented as a Merkle tree).
By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way".[7] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain." and a lot on Bitcoin and Blockchain respectively , yet their hang to know is not satisfy and even those who can read are left out of this dynamic transformation technology is bringing. I ask myself ,How will I better help the Blockchain community develop by explaining to at the basic level for such people ? And I believe its a question you should ask yourself too, the quicker we involve these people the earlier we avert the rampage of scamming in the Crypto industry and also the wider the Crypto industry spreads . How will you answer these questions; what is bitcoin ?and what is blockchain? To people that have no idea ? .
#Help_build_the_industry.
Extracts from : https://en.wikipedia.org/wiki/Bitcoin
https://en.wikipedia.org/wiki/Blockchain
