Blockchains Technology Will Change the World

Hello Steemits. I start writing my blog these words. Thank You Satoshi Nakamoto

Blockchain technology is a relatively new concept and rapidly growing industry. Similar data structures have existed long before the popular bitcoin cryptocurrency was conceived, however, principal theories of blockchain architectures used today were first outlined and defined in the original bitcoin white paper written and published by Satoshi Nakamoto in 2008.

Bitcoin Price
June 2009 1 BTC = 0.0001 USD
June 2010 1 BTC = 0.07 USD

About Blockchain

A blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order. Each node (computer connected to the Bitcoin network using a client that performs the task of validating and relaying transactions) gets a copy of the blockchain, which gets downloaded automatically upon joining the Bitcoin network. The blockchain has complete information about the addresses and their balances right from the genesis block to the most recently completed block.
The blockchain is seen as the main technological innovation of Bitcoin, since it stands as proof of all the transactions on the network. A block is the ‘current’ part of a blockchain which records some or all of the recent transactions, and once completed goes into the blockchain as permanent database. Each time a block gets completed, a new block is generated. There is a countless number of such blocks in the blockchain. So are the blocks randomly placed in a blockchain? No, they are linked to each other (like a chain) in proper linear, chronological order with every block containing a hash of the previous block.
Based on the Bitcoin protocol, the blockchain database is shared by all nodes participating in a system. The full copy of the blockchain has records of every Bitcoin transaction ever executed. It can thus provide insight about facts like how much value belonged a particular address at any point in the past.
The ever-growing size of the blockchain is considered by some to be a problem due to issues like storage and synchronization. On an average, every 10 minutes, a new block is appended to the block chain through mining.

Bitcoin Price
26 07 2016 1 BTC = 654 USD
Market Cap
$10,365,504,140

Thank You Satoshi Nakamoto

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