Blockchain: simply put
Distributed computing and decentralized information storage technologies were introduced back in the 90s. However, the word "blockchain" became known only recently - when a certain Satoshi Nakamoto showed how these technologies can be used to create a new financial system.
So, in 2008, bitcoin appeared, and along with this, the history of the development of the blockchain began.
In 2021, the popularity of these technologies turned out to be so high that the cost of that very bitcoin already exceeds $ 40,000 apiece. And, if such a major player as Tesla is interested in this phenomenon, then why not join the technology for ordinary users. We understand with our fingers what blockchain, decentralized network and cryptocurrency are - and the most popular one, Bitcoin, in particular: https://nsbroker.com/xbt-usd.
The People`s Encyclopedia knows a lot, but this is not always clear and accessible to the common man. As is the case with the definition of blockchain technology. Therefore, let`s try to disassemble the topic into parts and find out what refers to what in these incomprehensible wilds of cryptography.
What is blockchain and how it works
More recently, all payments were made in cash. With the development of the World Wide Web, the way of transferring values has also changed. Today, in the era of distributed computing and autonomous systems, the network has become more convenient and safer to work with the help of new technologies. For example, blockchain, where information moves between different people without the participation of service personnel, as well as bypassing centralization, where there is a possibility that a harmful error in the software code will help a hacker take money or valuable information.
Let`s start with the fact that the blockchain (Block - block, chain - chain) is a decentralized database, which is designed to store sequential blocks with a set of characteristics (version, date of creation, information about previous actions on the network). An analogous example of its structure is an infinitely long metal chain, in which links cannot be broken or reversed.
You can also think of the blockchain chain as a book with the ability to add pages. Each new page is written online, and the rest cannot be edited or deleted.
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