Skip to main content

Blockchain - what is it with simple words



What is Blockchain? In this article we will explain this term in simple words and on clear examples - on apples.


BlockChain in Russian means a chain of blocks. Imagine a ring of a hero. In it, each iron ring is directly related to the others. So in BlockChain technology each block is connected with thousands of others, but unlike a ring, each block interacts with all the others at once.



In fact, the blockchain is a technology for storing data and information about the processing of these data. But, unlike other systems, it has a unique operating principle.


Let's not go into technical details, now it is important for us to understand this principle itself.


It's a simple example. Let's imagine the situation. You and your friends have harvested a crop of apples and take turns approaching the basket. After recalculating your result, you write it down in a book. Imagine? Let's go.


You approached, put your 10 apples in the basket, write it down in your book. Your book with the record will be the first block.


Approaches Katya, rewrites your result in your book, puts your 5 apples in the general basket and also writes down your contribution. Her book is our second block. You recalculate, confirm that everything is correct, and write down the result of Katya in his book. Now everyone has the same actions and the result in 15 apples.


 

The third is Andrei, copying the record of your and Katya's apples, Katya and I check that everything is correct and confirm that everything is correct. Then Andrei puts 15 apples in the basket, writing down his result. You and Katya confirm the correctness and write down in your books. Andrei's book will be the third block in our system.



https://amara.org/en/profiles/profile/A1DyoeEm5xNsu33obfdR51UWY4JSFDNL2YAi-CB1Y3c/

http://laser.inf.ethz.ch/2015/index.php?option=com_k2&view=itemlist&task=user&id=1170743

http://guia.clarin.com/cattlegalley31/usuario

https://www.indiegogo.com/individuals/24637287

https://www.fanfiction.net/u/14164785/

https://www.ted.com/profiles/23252111

https://classifieds.villages-news.com/edit-profile

https://intensedebate.com/people/veilrose26

https://www.popsugar.com/profile/irisotter94

http://www.authorstream.com/goldgalley72/

https://ask.fm/monkeyfront0481

https://telegra.ph/Easy-Methods-To-Generate-Income-In-Stocks-And-Shares-09-09

https://pbase.com/topics/walruscomb21/stock_market_ideas_which_wil

https://ourdoings.com/ashleyzimmermann57ftcqyn/

https://penzu.com/p/e76e216b

https://www.openlearning.com/u/waspmuseum93/blog/GuidelinesOnHowToGenerateProfitsInTheStockExchange

http://gadegaardvangsgaard4526.fikket.com/

https://fateagle83.bladejournal.com/post/2020/09/09/Remain-Risk-free-And-Then-Make-Funds:-Stock-Trading-Assistance

https://iciclewaiter20.werite.net/post/2020/09/09/Boost-Your-Prosperity:-Simple-Tips-For-Making-An-Investment-In-The-Stock-Market

https://walrusdesign56.bravejournal.net/post/2020/09/09/The-Best-Stock-Trading-Strategies-You-Must-Know

https://pastebin.pl/view/128e8d10

https://gamblekirk036.shutterfly.com/21

http://b3.zcubes.com/v.aspx?mid=5105289

http://www.associazionehombre.it/index.php?option=com_k2&view=itemlist&task=user&id=1641334

https://www.boredpanda.com/author/ashleyzimmermann57ftcqyn/

https://www.pinterest.com/steenmarker/

https://www.openstreetmap.org/user/Booth%20Winther

https://amara.org/en/profiles/profile/pvh6EgdOXChOHjTtL-e1GjKFuHWK95At0epEWx87DSg/

http://laser.inf.ethz.ch/2015/index.php?option=com_k2&view=itemlist&task=user&id=1170526

http://guia.clarin.com/chalkprofit82/usuario

https://www.indiegogo.com/individuals/24636614

https://www.fanfiction.net/u/14164715/

https://classifieds.villages-news.com/edit-profile

https://www.ted.com/profiles/23250104

https://intensedebate.com/people/womenturtle

https://www.popsugar.com/profile/actorbeggar30

http://www.authorstream.com/actordirt03/

https://ask.fm/canvassanta8253


So far, everything is simple. All new members rewrite the results of previous ones, make their share, the correctness of the amount confirmed by others and all make changes in their entries.


Thus, everyone has the same information in their books. And this is the first principle of the Blockchain technology - a copy of all data is stored by each member of the system.

Comments

Post a Comment

Popular posts from this blog

The way to $10 million is provided t

 The way to $10 million is provided that hyperbitcoinization will occur 3 years earlier. In any case, we are considering a range from $10 million to $100 million, which we can come to in the next 20 years. Although this period of time may not seem large enough, it should be taken into account that "bitcoin is network money for network economy". Exponential levels of growth are difficult to perceive as we tend to make predictions based on linear time periods. However, in a short period of time, computers and the Internet have become an integral part of our lives and key economic drivers. The long-term bitcoin trend and continued exponential growth support the view that one day bitcoin can capture all the economic value in the world. Hyperbitcoinization Pragmatists can claim that Bitcoin as money will only be a part of the digital and "paper" money system. In certain regions and areas, Bitcoin may become the dominant currency and begin to meet limited (but valuable) n...
Post a Comment
Read more

Bitcoin Price Trend

The price of Bitcoin will not be able to grow forever, because at a certain stage of the crypt currency will absorb all economic value in the world. Let's first consider the scenario where the price of bitcoin reaches $100,000,000 per coin. I use the "bubble top" and non-linear regression line model to represent the channel. The orange line corresponds to a non-linear regression curve. The green line is drawn at the tops of early Bitcoin bubbles. The last price jump of the Bitcoin was a microbubble and did not reach this line. The channel is narrowing as the price approaches $100,000,000 in 2030. I assume that the price of a bitcoin will fluctuate within these limits, tilting less and less as it moves towards a state of hyperbitcoinization. We can see on the chart that, theoretically, the price of a bitcoin can rise above $500,000,000 where two lines meet. However, as mentioned above, innovative technologies are reaching the saturation stage and we should assume that bitc...
Post a Comment
Read more

muns cryptos

 Hyperbitcoinization graph in the context of changes in the value of the cryptographic currency. Although the different stages are depicted as just touching each other, in reality they do intersect. For example, a medium of exchange can be a bitcoin to a critical point. The path of hyperbitcoinization is described in the red S curve, which also represents the chart of the bitcoin price. Bitcoin begins to pass through a series of microbubbles at the nucleation stage. Each of them reflects a fundamental shift caused by the events that cause it. Experienced retail investors are joined by early risk lovers from the general public. Around the basic concepts of Bitcoin, venture capital funded companies are created. Wall Street firms develop tools to monetize bitcoin. Public corporations adapt it to make payments. And so on. Bigger price bubbles and endless volatility accompany these phases of early discovery. At this time, bitcoin use scenarios, complemented by improved instruments for i...
Post a Comment
Read more