BLOCKCHAIN: Decentralised System accessible by a Combination Lock. "A powerful piece of kit..!!"

BLOCKCHAIN TECHNOLOGY

I am asked all the time to help explain BLOCKCHAIN TECHNOLOGY and recently I found an easy way that seems to be helping people to understand the Characteristics and Methodology of the Technology.

THINK OF IT AS A COMBINATION LOCK AROUND A NETWORK OF SERVERS

One way to think of the Technology is think of it as a Combination Lock around a network of thousands of Computer Servers..!!

Current Systems that have been around since the mid/late 1970's and form the backbone of the Internet as we know it today are built on what are known as CENTRALISED SYSTEMS.

A Centralised System is simply a System where the Central Server feeds out data from a Central Location and has full control of what data comes and goes into this Central Location.

On other words in a Centralised Environment the data is controlled by whoever owns the Central Server.

In a DECENTRALISED SYSTEM no one owns the flow of data as the data is agreed and shared identically across a network of thousands of Servers.

To access this data and change what has been equally shared and distributed across the network requires a process that will simultaneously UNLOCK at least +51% of the Servers at the same time.

Think of it as a Combination Lock wrapped around the Network of Servers that will require unlocking by means of Cryptography.

STEEMIT - BLOCKCHAIN SOCIAL MEDIA

Blockchain Technology is an exceptionally powerful piece of Technology but when you combine this powerful Technology with Social Media you lift the bar on Social Media to a whole new level.

It is this lifting of the bar on Social Media that is set to revolutionise Social Media, as for the first time since its birth in the early 2000's it is now DECENTRALISED..!!

It is this DECENTRALISING of the data that is set to make STEEMIT a powerful piece of kit.

A powerful piece of kit?..... "A VERY POWERFUL PIECE OF KIT..!!"

Thanks again for reading.

Stephen