Lately blockchain technology goes ascending more in our economy and way of life, impact which many people can absorb with great ease, but many others do not have the same kind of learning. So I decided to create an article to share with acquaintances in different types of social networks for the easy understanding of the blockchain.

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Blockchain technology; Public and distributed database, in which all transactions are recorded, a relatively simple process implies people are part of a large group of users (nodes) that are responsible for checking transactions to validate them and that the block Corresponding to that transaction is recorded in a gigantic account book, and that the whole process is produced as it should be produced. (in each block there are a large number of transactions, it is variable).

This public accounting works through a distributed network of computers, that is, it does not require any central authority or third parties to act as intermediaries.

Blockchain technology was created in 2009 with the appearance of Bitcoin virtual currency. Its author, Satoshi Nakamoto, of unknown identity, published an article in the network that described a Peer-to-Peer system and a digital money protocol. In turn, it launched the Bitcoin Software, creating a network with the same name and the first units of virtual currency, Bitcoins.

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At present there are numerous kinds of virtual currency. Some will survive, others will not. However, the real potential is the technology behind Bitcoin, the BlockChain technology.

No more expenses double!

Until now, we have always needed a third party in which the two parties trust to guarantee the authenticity of the transactions whether it is a bank, an auditor, a notary or Paypal, for example, if a person would send 1,000 dollars to another person. normal is that the operation was carried out through a bank. That bank acts as an intermediary of that and many other transactions, effectively centralizing the movement of capital from one side to the other.
The bank will withdraw 1,000 dollars from the account and transfer them to the issuer's account, after a few hours (depending on the bank) that bank will have written down the transaction in its account, subtracting 1,000 dollars, informing the other bank that it must add 1,000 dollars in the receiver's account. In the bank of the receiver, a computer program, will note that in the account there are 1,000 dollars more coming from the bank account of the receiver.

In that management there has simply been one or two banks that have been responsible for making the money pass from one to another with a simple change in the balance of their accounts. obtaining a large percentage of the transaction made, without giving details or any control of the process, of which only those banks have all the information.

Blockchain solves this double-spending problem by combining the P2P technology of peer-to-peer exchange with cryptography to create a new form of digital communication and exchange.

The transactions included in the blocks (set of confirmed transactions) are created by the members of the system. All transactions are recorded and transmitted to all nodes in the network. Thus, all members have constantly updated information with all transactions.

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A node is a computer connected to the network that uses software to store and distribute an updated copy of the chain of blocks in real time.

Transactions are made from electronic wallets or wallets, which are encrypted files that work similar to a bank account. All wallets have a public key and a private key. The public key is a string of alphanumeric, it acts as an account number, in this way, for someone to send you a cryptomenedas and they arrive to you, previously you must give them the public key. The private key is used to authorize operations from your wallet. This process is what is known as asymmetric cryptography.

It is a decentralized, more automated, and lower cost process that takes us every day to the new advance of a new evolutionary economic system.

simplifying the approach, we will be a fundamental part in the management of our economic interests, having the information system capable of maintaining a privacy that is totally reliable.

This article is a creation for the demonstration, and helps relatives, friends and friends for the best simple understanding, and initiative to the integration of the use of technology, blockchain.

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Motivation for the development of knowledge of Criptomonedas and blockchain technology.

Look at the target, innovation at 100%