like iPhone, electricity, etc..
Consider a special Google spreadsheet which is shared by every computer in the world and is connected to the internet. Every time a transaction happens, it gets recorded onto a row of this spreadsheet.
Anyone with a mobile device or computer can connect via the internet and can access the spreadsheet. Anyone can view and add a transaction to this spreadsheet, but the spreadsheet doesn't allow anyone to edit the information which is already there.
Blockchains are the distributed ledger technology underlying bitcoin and other cryptocurrencies.
There is no need for a central entity.
You can easily discover on your own whether someone
tampered with your copy of the ledger.
Source
Blockchain technology is what gives Bitcoin and other cryptocurrency their power. It’s simply a large database or record of all Bitcoin transactions. The blockchain ledger is incorruptible because it’s distributed between everyone who’s in the blockchain network.
Each transactions on the blockchain has a digital signature. This digital signature includes a public key and a private key. These keys are almost impossible to crack and that’s what gives cryptocurrency their power and beauty.
Blockchain technology will mold our future. It is a much more secure way of holding and storing data, it is decentralized, EMPOWERS USERS, provides high-quality data, creates automation, can create faster transactions, in some cases create immutability or audit trails. This is like the internet of the 90’s and the dot-com era.
Major companies are starting to adopt the Blockchain technology such as Visa. Poor countries are getting over inflation of their local economy using Bitcoin such as Venezuela.
Source
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@lordoftruth,
Seriously I am not resteeming posts! But today I do! Block Chain Technology was a very complicated scenario to me! And you fixed it! Now, I am okay and understood this is a great concept and very interesting concept either!
Cheers~
@lordoftruth - Oh my goodness, Sir today I learn about this amazing technology through your article. Thank you very much Sir <3 A valuable article for me.... Therefore, I wish to ReSteem your post.
+W+ [UpVoted & ReSteemed]
Thank you for sharing. You helped simplify a rather complex subject..keep steemin' on.
Cryptocurrencies are the future and thank
goodness that we are part of it..good post
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thanks a lot for simple explanation about the Blockchains and how it is work.
Cheers!
Congratulations @lordoftruth
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For me it's still like on the old picture with interface+magic (everything beyond it). But this scheme explained something to me:)
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one of the best reference to know about block chain. excellent work @lordoftruth
ReSteemia
'UpVoted ReSteemed Commented'
think good friend!
you tell me about blockchain at the moment. I think it's a good job.
Thanks for sharing 100% like and resteem
Hey @lordoftruth
Nice explain....nice ideas....nice infomations.....and nice post from nice guy....
Wel done my dear friend...
Upvoted...
Cheers~~~~
thankyou for the info @lordoftruth
information and picture upload and sharing blockchain and bitcoin thank pelese my vote halp me Fl
Well written!
Thank you for the post!
Freaking awesome
Simple t9 understand and today i realized exactly what is blockchain
Wow+wowwow+wow
Keep posting buddy
:)
Upvoted and resteem
Cryptocurrencies are the future and thank
goodness that we are part of it..good post.............
thank you for sharing...
Very helpful..
This post has received a 2.41 % upvote from @booster thanks to: @lordoftruth.
good
Thanks
Cryptocurrencies are the future and thank
goodness that we are part of it..good post.............
very nicely explained in simple words thanks for the info graphics too :)
Thanks
@lordoftruth I totally agree with @theguruasia and others that you succeeded in explaining blockchain technology in understandable terms. I also have a good teacher, my son @exyle, but I know how difficult it is to really explain what's it all about. The big advantage of your piece is that it is written in simple terms. Thank you very much.
Great post,,,,,,
Thanks for sharing...........///////////
great post dear, thanks for your information . this post got upvote from http://steemit.com/@lighttheworld.
follow the link and you will get automatic upvote
귀중한 게시물, 귀하의 정보를 주셔서 감사합니다. 이 포스트는 http://steemit.com/@lighttheworld에서 upvote를 얻었습니다.
링크를 따라하면 자동 upvote 얻을 것이다
很好的亲爱的，谢谢你的信息。 这个帖子由http://steemit.com/@lighttheworld提供。
按照链接，你会得到自动upvote
あなたの情報をお寄せいただきありがとうございます。 この投稿はhttp://steemit.com/@lighttheworldからupvoteを得ました。
リンクをたどり、自動upvoteを得る
Hello, This Company here is the Truth!!!!, we can make one million in our first year..
My account is up over 25% from the coin alone!
Here is some more solid proof of how mjch confidence people have in the program.
Join here https://bitconnect.co/?ref=Asia67
Get back to me with any questions or if you need help funding your account.
Even a $100 investment in BCC will grow to over $200,000 with compounding
over the next 24 months.
See it Here
http://passiveresidualincome.com/bitconnectteam.html
joine me on face book for any question
https://www.facebook.com/sajjad.ameer.568
great post dear, thanks for your information . this post got upvote from http://steemit.com/@lighttheworld.
follow the link and you will get automatic upvote
귀중한 게시물, 귀하의 정보를 주셔서 감사합니다. 이 포스트는 http://steemit.com/@lighttheworld에서 upvote를 얻었습니다.
링크를 따라하면 자동 upvote 얻을 것이다
很好的亲爱的，谢谢你的信息。 这个帖子由http://steemit.com/@lighttheworld提供。
按照链接，你会得到自动upvote
あなたの情報をお寄せいただきありがとうございます。 この投稿はhttp://steemit.com/@lighttheworldからupvoteを得ました。
リンクをたどり、自動upvoteを得る
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