Get To Know Blockchain And Cryptocurrency With Their Usefulness.Part 1

in #blockchain7 years ago (edited)

Good day friends, I bring here today what will make a lot of nobs in this crypto sphere happy. Though it's not valentine yet should I call this Val gift? lol, no I won't.
Ok, what really happen is that I notice many websites keep telling us about blockchain and crypto-currency but they all failed to let us know deep down what brings on this technology, I might not be able to bring up too but I decided to do my research and write about it from where nobs will understand it to the last of how to make some cool cash with it.
So I call this #Get-to-know-blockchain-and-cryptocurrency-with-their-usefulness, this is going to be interesting as even me the writer will learn some new thing from this while doing my research. Thanks for anticipating.

In this tutorial, I will be talking about;

  • What Blockchain is.
  • What is Bitcoin.
  • How to get bitcoin and some other coin/tokens.
  • How to trade them
  • Even how to earn some for free.

What is the word BLOCKCHAIN TECHNOLOGY?.

“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)

Blockchain 1.PNG
source

The blockchain is a huge, global, decentralized spreadsheet.It keeps records of who sent how many coins to whom, and what the balance of every account is.It is stored and maintained by (miners) across the globe. The blocks in the blockchain are made up of all the individual transactions sent from everyone cryptocurrencies wallet. When you see your balance on blockchain.info, Samoural, Metal masks, mists, and all other cryptocurrencies wallet you are seeing data on the blockchain, not in our personal systems.
Anything, coins, tokens, transactions, articles, and so on keep on blockchain cannot be hack, delete or change.
This technology was invented by Satoshi Nakamoto, and up till today that I am writing this article, his real face has not been disclosed to the world. No one can say whether Nakamoto is a man, woman or an organization, there was a time we heard that he posted some words out but no one cant boldly say if those words are really from Him, Her or Them and no one has known the reasons behind his hiding till date.
From blockchain technology is what bring Bitcoin to life, which we all know today. But its a pity many of us know about bitcoin but not about blockchain itself, it is very common among nobs to ask others to tell them what bitcoin is and how to earn some fiat currency with it. After knowing bitcoin and invest in it, probably the price goes down they will start shouting up and down, Bitcoin want to crash! Bitcoin wants to crash!!. Very funny and I will blindly say only a fool will invest his or her money in what he doesnt understand.
While doing my research, I find this articles from one of those man in this sphere and I decided to bring it on here for well understanding of what Bitcoin is. So do well and open to read. Explain bitcoin like am five
Credit to Nik Custodio.


Note;- Any information you getting from this article is not advisable to use as an investment tip. Also, I stand to be corrected if there is any error or mistake in any of the tutorials.


So, I think this should be enough for today. Thanks for reading and be expecting the next part of this. Don't forget it will be coming part by part. Watch out for the next part

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The blockchain [...] is stored and maintained by (miners) across the globe who have special computers.

It is true for bitcoin blockchain, but not in general.

For example Gridcoin Research blockchain is stored and maintained by (miners) across the globe who have special often very ordinary computers, off the shelf laptops and desktops, often used for web browsing and other daily tasks.

Okay, thanks for the correction. Really appreciate it. We learn more every day in crypto sphere.

I really appreciate this post @princeola, especially the Apple example part, am now understanding what cryptocurrency is all about and what it's made of.

You're welcome brother, will let you know when I have post the next part. Thanks for stopping by

Thank you @princeola... This morning i woke up questioning myself! "What is blockchain?" i realised i had little or no idea. I said i was going to look up the meaning. Luckily for me i stumbled on your post! ...
I appreciate your efforts trying to put this out...
Cheers!!!

You're welcome my brother, I am happy to be of help. Don't forget it's a part by part, I have dropped the part 2.you can check it here. Thanks you.

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