What is Blockchain ? This is a topic that not a lot of people are familiar with. However it is growing and has come a long way in the last 10 years. So, what is blockchain ? Basically , it is a system that keeps track of things for businesses. Things like financial transactions and assets ( assets can be anything of value. Examples : houses , cars, property . It can also include things like patents . copyrights, cash , or any intellectual property.
Because trading assets of any kind involves risk, the blockchain network allows for tracking and trading of things of value. By using blockchain to do these things , it reduces risk and also keeps the costs down for anyone involved.
I am hoping that as you read on, this article will help you answer questions that you might have. I have done a lot of research on this topic, just trying to help people learn and understand about blockchain.
What is Blockchain ? Let’s Break it down :
- The blockchain is basically a global spreadsheet . It is decentralized , which means there is not a ” central” governing authority that controls it.
- If I send Bitcoin to you, it will record it of when, how much of what I sent and to who.
- For Cryptocurrency ( like Bitcoin ) it will keep track of account balances for every account.
- Miners ( People ) are a group of thousands of people across the world that have high powered computers that are all connected .
- A Blockchain has blocks within it . It keeps record of individual transactions that they send and receive
- You need to have a Blockchain wallet to be able to send and receive transactions. I think most digital wallets are free to join. There are so many out there to choose from.
Benefits of Blockchain for everyone
Blockchain is decentralized. No one person has control over the system. With that being said, it also means that the standard is high. Everyone is held accountable. Which means :
- The end of missed and/ or bad transaction ( no corruption ) databases.
- You have to give consent for any and all transactions.
- Blockchain has a main register and a connected group of network registers that record everything. They are all connected through a secure protocol that validates all users.
Is it Safe to Use ?
The answer to that question is YES . It is very safe. The system is decentralized which means no one person is in control. It is constantly being updated and validated. There can be no corruption or embezzlement because of this. Pretty much a top notch security system. Everything that I have read states it cannot be hacked. Which is great news for all of us. Especially with the world being as crazy as it is today !
How to Get Started With Blockchain
Are you ready to get started in the world of Cryptocurrency ? Don’t worry if you don’t fully understand everything. I know for sure that I was totally clueless when I started. I am learning more and more as I go.
For Starters , you want to learn how to mine cryptocurrency. No worries , it’s super easy. It’s just an app that you download on your computer. Get started when you click here. You will have step by step guidance in setting everything up. You can feel safe knowing that your computers are secure when mining. ( they will mine when you are not using them ) And just think you will be earning BTC with the push of a button. It’s that easy. And if you haven’t heard of Bitcoin (BTC ) , it is one of the most popular forms of cryptocurrency. Yes, you can be excited .
Remember this is 100% free ! So what are you waiting for. Go here to get set up and going earning your BTC ( Bitcoin ) It is safe and secure. The website is great and offers so much information. They say even a 5 year old could set this up !
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