Hello guys! Yesterday we saw some features of how the blockchain works on steem. Today we're going through that thing by understanding some metaphors. So let's get started!
Blockchain, or more specifically, steem blockchain can be explained by internet of value. this one's pretty simple, by using internet we can distribute data freely to wherever we want, blockchain does the exact thing for money! Because we can transfer crypto to whomever we want, it's like the internet where we can see no middleman!
If you send steem or SBD to a friend or sell it, the information is stored in your wallet section. If anyone wants to see those transactions they might just scroll down a bit to see them. Other people may not know your identity, but the definitely can observe how much you've transferred from your account.
That is why many people indicates the blockchain as an alternative to banking systems, Instead of using a bank account or some sort of institutions, you can easily eliminate the middleman and you blockchain.
Well you can definitely use this feature on steem blockchain!
In the banks, there is a room of safe where people can keep their precious things under the banks jurisdiction. Blokchain is like that. But the only difference is, we can see what is in those blocks (cryptocurreny). But in the banks we can't see that.
On steem blockchain, we have those safes (our steemit account for example) and a key (password) to the safe. If somebody wants to transfer you money, you just have to tell them which safe is yours (in this case perhaps your steemit username or posting key) and they can easily send money to your steem blockchain account.
thanks for reading. if you wanna read the first article, just click here.
