New day, new knowledge. Chachababe is ready getting feed of new knowledge. Because being just hot isn't enough. My today's plan is about this blockchain thing. What? Block and chain? I like chains. Dangerous. But I'm not sure if I like block. I mean… nevermind.
So I've watched some videos again on youtube. This time is all about blockchain technology. So, basically blockchain is a new network where we do the transaction which is decentralized. You heard this, ‘Peer to Peer’. Yes exactly, directly. Since I'm the nicest babe on the island, I'm gonna share and explain more to yall my online buddies.
Yeaa yeaa I know yall here are the smartest and I'm the one who late joined the party. Better late than never, eh? So please help and correct chachababe if I've probably mentioned something that is not correct. Cool people help each other, am I right? Gang gang.
"Is this an app? What kind of new technology? Why make it special? Is it legal?". Yes, I've been questioning these. So I will share some knowledge I get from the internet. So please stay with chachababe.
Blockchain technology is a decentralized database that stores a registry of assets and transactions across a peer to peer network. Yes I've mentioned it before. I repeated it again because that is the easiest and simplest way of how this blockchain works. Do I sound smart yet?
So it is basically a public registry of who owns what and who transacts what. Just like when you buy something online from Ebay or Amazon. For example, I'm selling my ex boyfriend PS4 and one of you is interested in buying it. Usually you transfer me the money through the bank or we can do the transaction just on the site/app. Say we do the transaction through the bank. You and I have different banks. And you have to pay for the fee or even tax to get my ex boyfriend PS4 I'm selling. Sucks? Yeah but it's always been like that.
Buuuuut if we do the transaction through blockchain, we are both gonna be happy. Why? It's not only you get what you want and I get the money. The benefits will be all transparent and the transaction will be stored in the block and we can do the transaction directly. Yes exactly baby, peer to peer. And you know what's cooler about this new technology shit? It can be for anything! Not only for physical assets. Remember the cool shit I've written before? NFT? Yes baby. These things are the new cool shit and most people think this is what the future is.
Let me share more knowledge I have with yall cool people. So, everytime there's a transaction, it will automatically be stored in the blockchain. There will always be a new block that grows to store the data of the transactions. The chains connect to one and another blocks, so then it is all stored to all these computers and no one can't even hack in so the data is secure.
Well, there is actually a possibility if you want to change something from the database. "Chachababe how?" Let me give you another example. Say the government smells something fishy like an illegal transaction or just doesn't like the person and wants to get the account frozen, no baby it won't be that easy. You can't just use your power to make your wish come true to freeze an account in blockchain. These all blocks has to be agreed. You can't fool these robots. All has to be fair. Yes baby, that is the benefit of using this new cool technology.
Ok cool people so that is some knowledge I learn from the internet so far. Since I grew up with manners I'd like to apologize if I've missed some cool other parts which I still don't know yet. Please correct me and lead me the way to this cool technology shit. This is the future. I believe in it. And... let's get rich together. Let's fucking goooooo
