What is Blockchain Technology? A Step-by-Step Guide For Beginners
The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, (Buy Bitcoin) the tech community is now finding other potential uses for the technology.
Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary. So, we hope you enjoy this, what is Blockchain guide.
The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)
Information held on a blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.
To go in deeper with the Google spreadsheet analogy, I would like you to read this piece from a blockchain specialist.
Good article! I found it interesting.
Talking about ICOs, after doing your own research, also finding good ICO projects can be profitable.
I want to share with you guys this new exciting project: RAWG.
Check out this new article where RAWG is mentioned as the "IMDB of gaming" on FORBES, one of the leading global media company, focused on business, investing, technology, entrepreneurship, and leadership.
https://www.forbes.com/sites/andrewrossow/2018/07/16/3-reasons-the-video-game-industry-is-bound-for-blockchain/#69da81c87810
The ICO will start in a short period, and they are at the moment in pre-ICO phase. This is the site: https://token.rawg.io/. It's a video game discovery platform that converts your skills into goods and services (the site is already working, with more than 57,000 games in the database).
Have a look and get some information while doing your own research :)
Another interesting point: RAWG has already secured $5m USD, halfway to hard cap of $10m!