Blockchain is a decentralized distributed database.
The blockchain is an incorrupitible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.
The blockchain is transparent, incorruptible and its up-to date.
Blockchain technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the blockchain cannot:
- Be controlled by any single entity.
- Has no single point of failure.
A network of computing nodes makes up the blockchain.
All of the is accomplished only after they receive the requisite cryptographic and mathematical proof baked into the new block. (This is what puts the "crypto" in "cryptocurrency") The process occurs automatically, requiring no human interaction or control and typically takes just a few minutes.
Digital Tokens/Cryptocurrencies
The first Digital Currency was bitcoin. It was the first fruit of the blockchain technology. Bitcoin gained main stream public attention in 2018. Nick Szabo had earlier founded
an early digital currency known as eCash in 1998 but the project was not successful because the internet was too young and immature to appreciate its key concept. The identity of satoshi Nakamoto, the brilliant computer programmer who created bitcoin virtually currency.
Smart Contracts
smarts contracts helps you exchange money, property, shares, or anything of value in a transparent way while avioidng the services of a middleman.
smart contracts are created by computer programmers through the help of smart contract evelopment tools. They are entirely digital and written using programming code languages such as C++, Go, Python, Java. Ethereum has become the most popular platforms for programming smart contracts, probably because of the simplicity of its "javascriptlike"
language called SOLIDITY
In its most basic form, a smart contracts gives you:
*Autonomy
*Trust
*Backup
*Safety
*Speed
*Savings
*Accuracy
Block Explorers
A block explorer allows you to search and navigate through the blockchain. Using a block explorer you can check the balance of different cryptocurrencies public addresses, track coin transfer histories, watch how many confirmations a transaction has and get a wide variety of statistics about the network such as the current hash rate and more.
List of 8 Popular Cryptocurrency Block Explorers.
Every Decentralized has its Blockchain.
*Blockchain.info
*Blockr.io
*Blockexplorer.com
*Insight.is
*Etherscan.io
*Etherchain.org
*Gastracker.io
*Etcchain.com/explorer.
I hope you find this very educative and impactful.
Thank You.
Follow me: @moziano
Wow well explained! Keep it up hun
Thank u my love.
A reading this over and over again. With this kind of explanations, I'll get along really quick in this Crypto currency world. Thanks for the writeup.
nice one
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