Hello every one.

As I am really diving in to the steem from the last six months, this block chain technology is really pulling me to the depths with interest and curiosity. I started studying the things about the block chain to be more involved and hoping to contribute for any project on steem. May it's seems very far away from now, but I believe its all will starts from a first step.

From few years I have also learned, small thing making up for every day with out fail, will gives you huge benefit in any form in long run. As many people say for the celebration of the success day, they didn't slept so many years. That's what inspires me. I also advice to any one looking out there , nothing comes instantly, In life or on steem :P

Block chain

Block chain is a peer-peer network system save all the transactions made through it.

The arguments over what is the first block chain is never ending and well we will learn about instead arguing.

So today, I start with basics of the block chain explaining terms you heard most here but never give shit about them.

Decentralised

We generally hear steem is a decentralized system and we must fight back the centralized systems like Facebook and twitter. Centralized systems will have core authority and only certain privileged people can check the transactions or have power over accepting new transactions. In decentralized there is no authority, any one can check the any transaction and check the history. No body have power over you on decentralized system.

Steem is a decentralized system.

Consensus Algorithm

Consensus algorithm is a agreement made over the block chain to decide how it should function and how the peers of the system reach to an decision.

Steem's consensus algorithm is " Proof of Stake"

We will discuss more about consensus algorithms in my next post.

Blocks

Block can be described as a data container structure which stores transactions. All the transactions made on block chain will be stored in blocks. Each block contains a piece of data from it's previous block and a time stamp. A block consists o header and the transactions. The Header will have meta data about the block. we will go in deep in after posts.

Node

We surely heard about this thing in many trending posts on steem, regarding witness node update. So Node is a device which helps to maintain the block chain and to its function. Its allows block chain to survive. The witnesses are the people we call here runs these nodes for the steem block chain.

I want to share more things of the block chain in a general way how any one can understand and remember. But I want to see how the community will respond to this write-up and continue. Because already a lot of thing are available on all the websites and I see many people are experienced more than me.

If you read this far, definitely you are a great reader on steem, Thank you for showing enthusiasm to learn about block chain.