What is blockchain

What is blockchain?  Blockchain is an exciting new way to process and store information online and it is nearly impossible to hack.  Also, the blockchain processes and stores information very fast. Therefore, the innovation of the blockchain will completely revolutionize the internet

Current internet

Currently, databases which are located throughout the world process and store information.  A database is basically a building with a huge computer system which processes and stores information.  Unfortunately, having so much information stored in one physical location makes these databases a target for hack.  Therefore, a system that would eliminate databases would better safeguard our private information.

Blockchain

What is blockchain?  With the innovation of the blockchain, databases will no longer be needed.  The blockchain is basically a huge network of computers located throughout the world which all have the blockchain program downloaded.   Therefore, when information is entered, it will be processed and also stored simultaneously on all of the computers connected to the blockchain.  Hence, the blockchain is very efficient, processing information within minutes.  In addition, the blockchain is the answer we need to the ever growing problem of hackers.

Decentralization

Decentralizaiton is a word we hear a lot when discussing the blockchain.  This simply means that we are moving away from the databases, which are centralized in one location.  Also, we are moving toward the blockchain, which spreads the information among a network of computers.  Therefore, the blockchain is said to be decentralized.

Security

Unfortunately, many of us have been the victim of hackers.  Having information stored in one location, such as a database, creates a good target for hackers.  Thankfully, the blockchain eliminates this problem.  Hacking into the blockchain would require such a huge amount of computer power that it is virtually impossible.

Blockchain and Cryptocurrency

The blockchain and cryptocurrency go hand in hand.  Thousands of computers are required to keep the blockchain in operaton.  These computers must process and store the millions of pieces of information entered into them.  Each blockchain is based on their own type of cryptocurrency and this cryptocurrency is used as an incentive to entice individuals to join their computer to the blockchain.  Upon downloading the blockchain program, you are paid in cryptocurrency and as your computer continues to process information for the blockchain, you continue to earn cryptocurrency.  In addition, the amount that you earn can be saved in hopes that the value will rise, it can be sold at current value, or it can be used to make purchases.

Earn Free BitcoIn

The computer I am using to write this article is currently earning bitcoin, which is called “mining”.  The blockchain program has been installed and has been running for several month and has caused no problems.  Actually, you don’t even know it is therewhat is blockchain.  If you would like to join me in mining bitcoin, GO HERE   It’s very easy to do.  Just follow the instructions and download the program.

 

 

For additional information about the blockchain visit:

Blockchain Details and Information at http://4s77.com/blockchain-details/

What is Bitcoin:  http://4s77.com/bitcoin-explanation-for-beginners  

Cryptocurrency Information and Support:  http://4s77.com/cryptocurrency-information-support/

Cryptocurrency Wallet, the Ominex:  http://4s77.com/ominex-the-blockchain-wallet-and-compliant-token-solution/