[leindeer] What is the Block Chain? - 1

Hello. I am leinder.

Now I'm going to make a series of descriptions of block chain technologies.

Before you enter the world of virtual money, I believe it would be helpful to first understand the technology of block chains and to have access to virtual currency.

First, what is a block chain?

As we step into the news and virtual currencies, we hear a lot about the block chain.

A block chain is a collection of blocks that are connected one after another.

The bitcoin we know most about is the virtual currency using the block chain technology.

A block chain is also called a public transaction book and is a technique to prevent hacking that can occur when dealing in virtual currency.

Existing financial institutions keep transaction records on their servers, whereas block chains send transaction histories to everyone who participates in the transaction and compare them with the
Use a method to prevent data counterfeiting.

Let me give you an example.

Let's suppose I go to the bank and get some money. I go to the bank window and ask for my deposit of $ 10. So the bank clerk had to do that.

I will go through the account and check if I have any records I have deposited, and if my previous $ 10 credit is on the account, the bank clerk will take the $ 10 bill out of the safe and give it to me.

However, if the transaction details are not in the transaction book, the bank will not be able to meet my request.

If you don't check the transaction history properly in the transaction book, the bank can not do its job, so it's useless.

In addition, the account is at the heart of the financial transaction.

If hackers get hold of a transaction book and manipulate the data, they can get the money out of it.

Banks and credit card companies have a very complicated security policy to keep their books safe. They build secure, secure and secure deposits in strong buildings, hire security personnel, and spend a lot of money, including creating security-related software and servers.

However, block-chain technology enables secure keeping of transaction books without the need for servers or guards. That is to have everybody who uses Bitcoin manage the transaction books together.

All Bitcoin users connect to the network to keep the same copy of the transaction register, and write the new transaction details in the transaction log.

We gather once every 10 minutes to update our account.

Even though the old books have water on them, or some of them have been ripped off, they can duplicate the normal books someone else has

Bitcoin is the first time that all transactions that have been made since January 2009 have been completed. It's built into a block chain.

Users of Bitcoin around the world still meet once every 10 minutes to extend the block chain.

Because of this benefit, block chain Iranian technology is now in the financial arena, making it nearly impossible to tamper with the technology above.

And when it comes to the block chain, Iranian technology, bitcoin is just one example of currency. This technology will be available in a wide variety of fields, including trade, IOT, and cloud services.

Thank you. Next, we will write about the advantages of the block chain.

And that's Leinder. Haha