This is one of a series of articles about Bitcoin, blockchain and all world of cryptocurrency. For do that i will use the many contents that are on the web or in more technical books, so I will make a collection of information to create this and future articles. The first step to do is understand what is a blockchain, how is work and why is important.
The first mistake many people make, is to confuse the blockchain with Bitcoin.The bockchain is a technology that allows the creation of a large distributed database of transactions, these transactions are contained within blocks, which will form the blockchain. When we talk about the transaction we mean the cryptocurrency transaction or the sale of a house or any exchange of information or objects, this is why today we talk a lot about blockchain and its many uses, not only with cryptocurrencies but in many other sectors... basically when it is necessary to exchange something we can use the blockchain. This tecnology is :
Basically there is not central authority that controls or manages the system, but those who are part of it "manage the system". So for example: A can send money to B without the presence of a bank that acts as an intermediary, but simply as if sending an email.
We said that the blockchain is a set of blocks that contain the transactions .. but who does these blocks? who controls this system? ... easy ... the miners. To create a new block, a complex mathematical problem must be resumed ... and this is done by the miners. Miners are people who use their computers to solve very complex mathematical problems, this operation is called mining. when the mathematical problem is solved, a new block is created, at the same time this is checked and validated by the other miners. Doing this requires a lot of energy , so when you solve the complex mathematical problem, the miner is rewarded with fees (or with some bitcoin in the Bitcoin system).
The blochchance is perfect ? NO!
these elements could be of strong limitation to the blockchain. One on all, the time to process. One above all, the time of the procession. In Bitcoin in fact, a block is created every 10 minutes... That's why there are forks; these are some of the blockchain tools to improve performance. One of the famous forks is Bitcoin Chash . “Transact in seconds. Get confirmed in minutes. “
Blockchain is not just a new technology ... it's something more ... it's a new way to imagine the web economy, the relationship between the members of the community or ... why not ... it could be a new era of the internet. Obviously this is only the first step and it is impossible to think about how this technology will change in the future. Surely something is changing in our mind ... we are sure that this could be a new technological revolution, a new system without economy, government or other type of intermediation ... a new type of democratic expression of the community in which singol member is an active part of the system and not just a passive and unaware member.
This very simple article was made to give everyone the opportunity to understand the blochchain and its operation. Who wants to deepen the topic will find all the necessary material on the forums or on the various information sites.
Thanks.