DIGITAL CURRENCY -BLOCK CHAIN

in Best of India3 years ago

Hi friends, today also am going to tell you some more details about digital currency.

How this digital currency is safe? for this question we can have the following answers:

  1. It's safe because it is saved by the blockchain method. What is it? I will give you an example of this so that everyone can easily understand this.

All Indians are very much familiar with Zamindari systems operated in India long ago. If X who is a zamindari gives all his currency to his cashier/ Accountant and keeps everything safe and makes an entry for all without fail. An Accountant is liable to give proper accounts whenever Mr.X asked him about his cash.

Assume that if that accountant is a fraud and wants to cheat the Zamindar and loot or be corrupted by anyone and all his money one day, what is the position of Mr.X. End result is he lost his money because he trusted the wrong person.

Now we will have another assumption, the same Mr.X is giving his cash details to more than 1000 people, then all 1000 can not be searched and corrupted. It is a cumbersome play. Because of this Mr.X's cash would be safe.

Now we will come to our Blockchain now, instead of saving our data into one server, (one accountant) if we split our data into so many servers then our money would be safe and technically it is not possible for anyone to hack the data. This is the actual idea of this blockchain.

When we invest in Digital currency it would be split into so many servers simultaneously and safe.

Hope I have given some idea about blockchain. Please support me and vote for me friends.

Sort:  

Your post is so informative keep posting such nice posts.

sure will do it

pls vote for me

Nice information from you. You explained very well about Blockchain Technology.

Keep posting like that posts to us.Take care.

thanks for your reply.

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