This a new technology breakthrough that uses a Digital Transparent Encrypted Data (COINS or TOKENS) which is used as a Store of value (SOV) and Medium of Exchange (MOE) running across a global network of computers building blocks of data. The technology behind this is called Blockchain, which has been proven by a currency called Bitcoin to be secure, immutable, and transparent .A Digital & Transparent technology. It’s a public decentralized public ledger where the network Records, Keeps and Authenticates transactions placing them on a network called the Blockchain.
In fundamental terms, the Blockchain is a system of digital files and accounts that lets a global network of computers maintain a bookkeeping system to record and verify every transaction. Transactions are allowed to be added but never deleted from, the distributed public ledger-which means that every transaction has a traceable digital "fingerprint" and audit trail. This has implications for security and risk management in today's environment with the modern day hacking, manipulating and compromising of data. In order for you to breakthrough a Blockchain network. You’d have to be able to be at every single computer (NODE) across the globe at the same time to do so. An extremely difficult network to hack.
Hey, Steemians thanks for reading. This technology is all pretty new to me. As I learn more of it I will share what I can.
Please stay tune for part 3 on "Describing the Capabilities and How the Blockchain is changing all aspects from finacial matters to Votes and on how we all will be conducting business in the future.
