If we want to describe this advanced technique in the simplest terms, Block Qin is a database or a new way of organizing data, but the way it is treated is different, as is its decentralized distribution (see decentralized network patterns in the middle of the 1967 picture when Paul Paran Distributed systems, central systems and decentralized systems).
Screen-Shot-2014-12-23-at-10.30.59-PM.png
Many confuse the role of the virtual currency and Block Qin's technology, which rewards shareholders by verifying the network by giving them after completing verification tasks in a virtual currency that may be bitcoin or any other virtual currency.
Block Qin's technology, known as the Bitcoin transaction log, helps maintain tampering lists in ever-growing data records and allows secure exchange of valuable materials such as funds, stocks or data access rights. Unlike conventional trading systems, there is no need for a broker or central registration system to follow the movement of exchange, but all parties are dealing directly with each other.
The first thing to understand is that blockchain is a technology and was originally created when Bitcoin was first launched in January 2009. Equally, there are two types of blokchain - private and public. The private blockchains one usually owned by a consortia of organisations that know each other - e.g. the R3 consortia of banks.
Public blockchains are slightly different.
Much as it sounds very weird - the original bitcoin blockchain is not owned by any single individual, by any government or any corporation - it is owned by the bitcoin community itself. The software behind bitcoin is open source, with the security for the bitcoin blockchain provided by what is known as miners - around 5,500 globally who all compete with each other to solve a cryptographic puzzle that seals a block of data together. When sealed, a bicoin is produced and sent to the miner that successfully solved the puzzle. Each miner also has a copy of every transaction that has ever occured on the bitcoin blockchain - with the ledger housing each transaction standing currently at just over 100 GB in size. As a result, the bitcoin blockchain is purely based on the internet but not controlled by anyone, just the bitcoin protocol that runs it.
Merkle Trees were invented and patented in 1979. Hash lists were combined with Merkel trees in 1992. This formed the core data structure from which, in 2008, Satoshi Nakamoto created the consensus protocol that became Bitcoin. Blockchain has become synonymous with Bitcoin, but the history goes back much further.
There is huge potential in some of these blockchain ideas. Not all of them, some “are” Ponzi scheme, some are here to survive, just like in dot com bubble. Blockchain is the technology that is already revolutionizing the world. And it is just the beginning. I have no doubts that this industry will show significant growth. I have no intention to test my nerves and don't want to trade. I am going to be in it very long time. And I will be successful. No, not just me. We will be successful. In my circles, almost everybody is saying that crypto world is, at best, a big bubble, and it would burst soon. At worst, it is the biggest Ponzi scheme ever created in the history of humanity. Every cryptocurrency has only one aim: To fool millions of people all over the world and take their money. I don't try to convince them, don't even start any discussions. I just smile and change the subject. Why? Because all these things look like deja vu for me. I bought several cryptocurrencies and kept holding them despite market fluctuations which sometimes were tough. Of course, I modified my portfolio, disposing of garbage and buying promising cryptos. All of my surroundings were desperately screaming that I would lose my money and I had tendency to play Russian roulette. Bubble, bubble. bubble... Mass media started spreading the rumors about regulation, institutional investors, especially greedy bankers from Wall Street who are guilty of 2008 financial crisis, threw balls to the wall so that cryptos became less popular. And I still continued to hold. The entire world tried to convince me to sell, and I still continued to hold. I bought and so still buying several major cryptos like Ether, Litecoin, bitcoin. I used the experience I received during the financial crisis, and it helped me to be patient and emotionless.
Great video, thanks for sharing. I've smashed the upvote button for you!
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
Muy interesante su artículo amigo. Creo que vamos a; lo cito: "Trasladar esa propiedad del modelo 'autorizado' que actualmente disfrutamos a uno sin permiso. " fin de su cita... Ah por cierto en Venezuela estamos atravesando una terrible situación financiera, nuestro dinero está acorralado en los bancos.
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Blockchain has to the public ledger right? Where all transactions are saved. I still get confused by blockchain, the different times of blockchains, how some are advanced that others and how some support other applications on it.
I understand cryptocurrency and ICOs quite well, the currency and selling the coins to the public for the first time.
ICO was the hit last year, turning in hundreds of millions for developers. The reverse is now the case, people are scared of investing in larger coins talk less of these untested coins.
A blockchain is nothing more than a data structure. It is not even the thing that makes Bitcoin work. The thing that makes Bitcoin work is the decentralized consensus protocol.
A blockchain can be used to create an immutable ledger without decentralized protocols. Simple as that.
A private blockchain creates a cryptographically immutable record of data. How that data is appended and secured is where the differences come into play.
What is the use case? A decentralized, trustless system makes a lot of sense for a digital currency. For other use cases, not so much.
Blockchain will have many more applications than just cryptocurrencies. Many of those will be best suited towards decentralized, trustless control systems and many of them won't. The reward will come in recognizing the opportunities in the entire space and not by forcing particular structural elements into every possible application.
WARNING - The message you received from @steemitag is a CONFIRMED SCAM!
DO NOT FOLLOW any instruction and DO NOT CLICK on any link in the comment!
For more information, read this post: https://steemit.com/steemit/@arcange/scammer-reported-steemitag
Please consider to upvote this warning if you find my work to protect you and the platform valuable. Your support is welcome!
Waiting for btc hungriness
If we want to describe this advanced technique in the simplest terms, Block Qin is a database or a new way of organizing data, but the way it is treated is different, as is its decentralized distribution (see decentralized network patterns in the middle of the 1967 picture when Paul Paran Distributed systems, central systems and decentralized systems).
Screen-Shot-2014-12-23-at-10.30.59-PM.png
Many confuse the role of the virtual currency and Block Qin's technology, which rewards shareholders by verifying the network by giving them after completing verification tasks in a virtual currency that may be bitcoin or any other virtual currency.
Block Qin's technology, known as the Bitcoin transaction log, helps maintain tampering lists in ever-growing data records and allows secure exchange of valuable materials such as funds, stocks or data access rights. Unlike conventional trading systems, there is no need for a broker or central registration system to follow the movement of exchange, but all parties are dealing directly with each other.
The first thing to understand is that blockchain is a technology and was originally created when Bitcoin was first launched in January 2009. Equally, there are two types of blokchain - private and public. The private blockchains one usually owned by a consortia of organisations that know each other - e.g. the R3 consortia of banks.
Public blockchains are slightly different.
Much as it sounds very weird - the original bitcoin blockchain is not owned by any single individual, by any government or any corporation - it is owned by the bitcoin community itself. The software behind bitcoin is open source, with the security for the bitcoin blockchain provided by what is known as miners - around 5,500 globally who all compete with each other to solve a cryptographic puzzle that seals a block of data together. When sealed, a bicoin is produced and sent to the miner that successfully solved the puzzle. Each miner also has a copy of every transaction that has ever occured on the bitcoin blockchain - with the ledger housing each transaction standing currently at just over 100 GB in size. As a result, the bitcoin blockchain is purely based on the internet but not controlled by anyone, just the bitcoin protocol that runs it.
Merkle Trees were invented and patented in 1979. Hash lists were combined with Merkel trees in 1992. This formed the core data structure from which, in 2008, Satoshi Nakamoto created the consensus protocol that became Bitcoin. Blockchain has become synonymous with Bitcoin, but the history goes back much further.
There is huge potential in some of these blockchain ideas. Not all of them, some “are” Ponzi scheme, some are here to survive, just like in dot com bubble. Blockchain is the technology that is already revolutionizing the world. And it is just the beginning. I have no doubts that this industry will show significant growth. I have no intention to test my nerves and don't want to trade. I am going to be in it very long time. And I will be successful. No, not just me. We will be successful. In my circles, almost everybody is saying that crypto world is, at best, a big bubble, and it would burst soon. At worst, it is the biggest Ponzi scheme ever created in the history of humanity. Every cryptocurrency has only one aim: To fool millions of people all over the world and take their money. I don't try to convince them, don't even start any discussions. I just smile and change the subject. Why? Because all these things look like deja vu for me. I bought several cryptocurrencies and kept holding them despite market fluctuations which sometimes were tough. Of course, I modified my portfolio, disposing of garbage and buying promising cryptos. All of my surroundings were desperately screaming that I would lose my money and I had tendency to play Russian roulette. Bubble, bubble. bubble... Mass media started spreading the rumors about regulation, institutional investors, especially greedy bankers from Wall Street who are guilty of 2008 financial crisis, threw balls to the wall so that cryptos became less popular. And I still continued to hold. The entire world tried to convince me to sell, and I still continued to hold. I bought and so still buying several major cryptos like Ether, Litecoin, bitcoin. I used the experience I received during the financial crisis, and it helped me to be patient and emotionless.
Great video, thanks for sharing. I've smashed the upvote button for you!
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
Muy interesante su artículo amigo. Creo que vamos a; lo cito: "Trasladar esa propiedad del modelo 'autorizado' que actualmente disfrutamos a uno sin permiso. " fin de su cita... Ah por cierto en Venezuela estamos atravesando una terrible situación financiera, nuestro dinero está acorralado en los bancos.
Man to tell the truth, I still don't understand the block chain technology. I did get some understanding from you but still not all there.
Hola @nazo-scoop
Mi punto de vista es que se la Banca privada se vaya al Infierno. jijijijijiji
Saudos y muy bueno tu artículo
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Blockchain has to the public ledger right? Where all transactions are saved. I still get confused by blockchain, the different times of blockchains, how some are advanced that others and how some support other applications on it.
I understand cryptocurrency and ICOs quite well, the currency and selling the coins to the public for the first time.
ICO was the hit last year, turning in hundreds of millions for developers. The reverse is now the case, people are scared of investing in larger coins talk less of these untested coins.
A blockchain is nothing more than a data structure. It is not even the thing that makes Bitcoin work. The thing that makes Bitcoin work is the decentralized consensus protocol.
A blockchain can be used to create an immutable ledger without decentralized protocols. Simple as that.
A private blockchain creates a cryptographically immutable record of data. How that data is appended and secured is where the differences come into play.
What is the use case? A decentralized, trustless system makes a lot of sense for a digital currency. For other use cases, not so much.
Blockchain will have many more applications than just cryptocurrencies. Many of those will be best suited towards decentralized, trustless control systems and many of them won't. The reward will come in recognizing the opportunities in the entire space and not by forcing particular structural elements into every possible application.
WARNING - The message you received from @steemitag is a CONFIRMED SCAM!
DO NOT FOLLOW any instruction and DO NOT CLICK on any link in the comment!
For more information, read this post: https://steemit.com/steemit/@arcange/scammer-reported-steemitag
Please consider to upvote this warning if you find my work to protect you and the platform valuable. Your support is welcome!