The first blockchain was then conceptualized by Satoshi Nakamoto in 2008 and was implemented the following year as an essential component of the digital currency bitcoin, where it serves as a public accountant for all transactions. Through the use of a peer-to-peer network and a distributed timestamping server, a blockchain database is managed autonomously. The invention of block chain for bitcoine is the first digital currency without requiring a trusted administrator.
Blockchain technology go beyond transactions and "exchange of value without powerful intermediaries acting as arbiters of money and information. Is allowing the protection of privacy and people to monetize their own information, and provide the capability to ensure creators are compensated for their intellectual property. Second-generation blockchain technology makes it possible to store an individual's persistent digital ID and persona and are providing an avenue to help solve the problem of social inequality by the way wealth is distributed.
In the simplest of forms, cryptocurrency is digital currency. The flagship application of this technology is crypto-currencies as is the case for example, the bitcoin, which is still far from being the only virtual currency. A cryptocurrence is a medium of exchange as normal currencies as it is USD, more designed to exchange digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure transactions and create new coins.Today, there are hundreds of other cryptocurrency . Unlike the centralized bank, such as the Federal Reserve system, where governments control the value of a currency as USD through the printing of fiduciary money, the government has no control over cryptocurrences, Because they are completely decentralized. All cryptocurrencies are maintained by a community of cryptocurrency and some parts have added features to create true anonymity.
This is probably something that everyone should consider. However, there is a lack of understanding of what it is and what it does. This may represent the threat of an extreme disruption for the current financial system, but this time in our favor. All power of community ....
Pass the words!!
@AnarchoPirate