It is a pleasure to write within the OCD community, but it is also a great responsibility because it has to be done with elegance, culture, education, and a lot of professionalism. So we will start talking about what I call, TechEducation, where it will be a space to get out of doubts about what is the Blockchain community, cryptocurrency, Dapps, among others, so let's start.
Although most of us use cryptocurrencies, blog-type pages that reward you with (X) cryptocurrency or token, many don't know what is Blockchain or DLT. The important thing is that both are similar but have their similarities, what they share, are decentralization and security.
We must clarify that there are many similarities between them, but here we will be able to differentiate one from the other, in a pedagogical way that is understandable to all.
It is known as Distributed Ledger Technology (DLT), it is a technology that allows the creation and circulation of information, data systematically, or electronically. One of the important things about this distribution system is that it does not allow for centralization.
It can be designed in a completely decentralized way without a control core or it can be distributed in several cores, supported by a master node or in some cases it can be federated, that is, where each core has great autonomy.
An important point is that it can be private or public, everything will depend on the level of security you want to obtain.
However, for the construction of a network can be done through the P2P protocol, as the consensus algorithms of the DLT are much less complex and act quickly. Since the network itself has its intrinsic resilience and immutability that allows them to be less demanding.
This is known as Blockchain Technology, the main definition that can be given is that it is a system that depends on blocks to store information. And that's where the technology comes from, that each one of them is connected so that the popular blockchain works.
And once all those blocks are connected, they start to throw out immutable information, that is, there is no way that such data can be modified. That's why it's said; what you write in the blockchain stays in the chain.
The blockchain network also uses P2P, and with a consensus system that is super secure and immutable. And of course, it also has the particularity that the DLT, can be public, private, or federated, everything will depend on the level of security that will be required.
With the little preamble, we can say that either of the two is feasible, everything will depend on the use you want to give it. For example, DLTs have a very good security system and are easy to apply, without complex mechanisms. On the other hand, Blockchain is a bit more complex but it is the safest thing that can exist. Therefore, everything will depend on the objective you want to give.
For example, if you want a functionally scalable system, which can be tested in development and private environments, then you should choose DLT technology. On the other hand, if you want something public, decentralized, that is immutable, auditable, then your path is the Blockchain. As you can see, it all depends on the object/use you want to give it.
The important thing is that whatever you choose you will have a very good database that will allow you to manage and control thanks to the great benefits of integrity and security. This means that for someone to break these systems, he must have a very good computer system that allows them to break all the blocks or electronics connected between them.
Now, with the arrival of the Blockchain, we can see that this connection between cryptography has allowed a better interconnection on a global scale. That is to say, economically speaking, they gave us the cryptocurrencies with the boom that Bitcoin had. But that doesn't go as far as that, there are endless things that can be done with this technology to provide humanity with more security and much more development.
Apart from the cryptocurrencies, we have the Fintech and DeFi that came to provide more comfort to mankind. However, there is still much more to come, for example; the DeLaw will allow technology to be a vital part of the laws of any country. Disruptive concepts that arrived thanks to DLT and Blockchain technologies.
We can see how either of these two technologies are of great help for the day today, and that would facilitate the great problems that exist today. Therefore, it is always good to know that even though they cross out cryptocurrencies or any involvement that is made with this type of technology, as a terrorist, scams, etc. We have to take into account, that it is because of the fear that the system has to be destroyed since it is well known that the cryptocurrencies arrived to break that old economic scheme and to simplify our life stably and safely.
What do you prefer, to continue with the classic structure or to join this vanguard, that will give you confidence and security?
