THE BLOCKCHAIN - BASICS

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What is The Blockchain?


Most of you probably haven't even heard this term ever in your life, but in fact, you use the blockchain everytime you do anything on the internet. The main idea behind blockchain is to store data by spreading it across the entire network The information that is stored on the blockchain is saved in a form of data blocks. Each data block is connected to the previous one with the use of cryptography, programming and codes. They are built that way so faking, hacking and breaking them is impossible. There are 2 types of blochchains, public ones and private ones. Private blockchains are more complicated and we are not going to dive into them. Most webs, programms, etc. work on public blockchains. Nowadays they are mainly associated with crypto, but blockchains  are used everywhere. Blockchains are built with programming languages, in crytpo for example: Ethereum's blockchain was created with Python and C++, and Bitcoin's blockchain was created on C++ language. 


I hope after reading this post you understood the basics of the blockchain. I encourage you to watch these videos to better understand the idea behind blockchain or to understand some difficult terms I didn't explain. 

videos: Blockchain simply explained, Why is blockchain so crucial?.

In the upcoming posts we will focus particularly on the point of cryptocurrencies and how their market works. Thanks for reading and as always, wait for more posts to find out more about the future of money. 





source: Business Insider

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