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If the word makes no sense to you or you have a little bit of knowledge of what it could be – then you should keep reading.
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Also, even if you are a blockchain expert or blockchain is your lifestyle – I still recommend you to keep reading because ignorance is not knowing.<\/strong> It doesn\u2019t matter how much previous knowledge you have or how old are you because after reading this, you\u2019ll understand Blockchain enough to participate in a conversation about this technology<\/strong> without looking like someone\u2019s talking to you in a foreign language you don\u2019t know. And you will probably start looking for ways how to use blockchain in your own life.<\/strong> You really should make blockchain<\/strong> become an ally of yours. Anyways, now is the time to meet these blocks and chains. First, let\u2019s try to define what\u2019s blockchain to confuse you even more. Blockchain, as you might know, is a technology, an innovative one. Judging by the name of the technology, we can understand it\u2019s several blocks or even groups, consisting of transactions and a chain that holds them together and distributes them among the users. Blockchain technology records transactions<\/strong> in a verifiable way for the two parties between which the transaction is happening. The transaction recorded by the technology is also permanent<\/strong> because Blockchain\u2019s data can\u2019t be modified. I bet for a 7-yr old this is a brand new planet. But it\u2019s easier to learn something if we compare it with something we already understand or understand partly. So let\u2019s do that. We could compare Blockchain with Wikipedia <\/strong>(did you expect that?), looking from a surface level, of course. In the situation of blockchain, the record of information consists of entries written by several people. Not only one person. With Wikipedia it\u2019s not any different, the information you see on Wikipedia is also published by many different people, not a single publisher. However, if we dive deeper into comparing blockchain with Wikipedia, we can easily see some differences.<\/strong> It is not a secret that both blockchain and Wikipedia run on the internet. On the internet, when we search for Wikipedia it is with the \u201cwww\u201d<\/strong>, which means it\u2019s built into the World Wide Web<\/strong>. And on Wikipedia, a user can change and add new entries of information on Wikipedia\u2019s centralized server. The databases of that centralized server, called centralized databases are highly protected, almost as much protected as the government\u2019s <\/strong>centralized databases. But now, let\u2019s look at the blockchain<\/strong> and the database<\/strong> the technology creates. It is completely different from the centralized databases of Wikipedia and that makes blockchain technology<\/strong> special. You see, on Wikipedia, the information is edited on a server, and that way all users see the new version.<\/strong> But with blockchain, it isn\u2019t like that. Every node in the blockchain\u2019s network comes to the same conclusion, differently<\/strong> from Wikipedia and its server, they update the record of information independently, and instead of seeing the newest version, you see the most popular one. For me, this difference makes blockchain technology look more appealing. To help you understand blockchain better – we should take a look<\/strong> at some more facts. The original intent for blockchain was to buy cryptocurrency<\/strong>, more specifically, Bitcoin.<\/strong> But the tech community<\/strong>, as always looking for new solutions, found other ways to use blockchain. Because of blockchain\u2019s superpower to allow digital information to be distributed but not copied, the technology created a new skeleton for a different type of internet we hadn\u2019t seen before.<\/strong> People started liking blockchain because its digital information of it is visible to everyone plus anything that is built on the principles of blockchain is completely transparent.<\/strong> That makes it harder to make sketchy actions because everyone will see. For that, we can say blockchain is safer <\/strong>and could be defined as a democratic system.<\/strong> The answer to this question is amazingly simple. Blockchain technology can transfer money and store money and at the same time, it changes a thing we\u2019re all used to. The fees.<\/strong> Blockchain can replace those business models which make a profit<\/strong> by charging a small fee for every transaction or even the fee in a transaction between two parties. All those benefits of blockchain technology, it is a big factor that made Bitcoin<\/strong> so big. I have to be honest<\/strong> with you, the pros and benefits of blockchain don\u2019t stop here – there are even more, we could easily make this post long. So if you want to learn more about why blockchain can improve your life and future, then make sure you let us know in the comments.<\/strong> This technology can improve<\/strong> our lives. No more transactions are being missed and things like human errors<\/strong> will become extinct on the internet. But you have to realize – That Blockchain technology hasn\u2019t stopped improving and updating. It is constantly evolving. We live in a world, where new technology is an everyday thing, but most people know only about the smallest percentage of all new technologies that are coming out, but you don\u2019t have to worry – because it\u2019s normal to not know. Talking about the topic of technology, you\u2019ve probably heard the word \u201cBlockchain\u201d in […]<\/p>\n","protected":false},"author":7,"featured_media":638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"yoast_head":"\n
<\/p>\n\n\n\n\u201cWhat value will I get from this blog post?\u201d <\/strong><\/h3>\n\n\n\n
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<\/p>\n\n\n\nThere is a Chance You Already Understand Blockchain<\/strong><\/h3>\n\n\n\n
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<\/p>\n\n\n\nWhy Is It Different?<\/strong><\/h3>\n\n\n\n
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<\/p>\n\n\n\nDatabases Matter<\/strong><\/h3>\n\n\n\n
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<\/p>\n\n\n\nA New Type of Internet<\/strong><\/h3>\n\n\n\n
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<\/p>\n\n\n\nWhat Else Is Good About It?<\/strong><\/h3>\n\n\n\n
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<\/p>\n\n\n\nConclusions For Now<\/strong><\/h3>\n\n\n\n
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