«It is not difficult to be fascinated for something so transformative »
In any transaction system there must be an accounting ledger with the balance account of all participants. Currently, these books are isolated and closed.
To the public and, in that condition, the presence of trusted third parties is required. (eg governments, banks, trust companies, accountants, notaries and paper money) to Facilitate and approve transactions.
The blockchain technology is a free and open source distributed software a global level that eliminates the need for trusted third parties by making a Computer network Keep a common accounting book via the internet. This accounting book It is public and is distributed in its entirety through a network of "nodes", each one of those who have a complete copy of the ledger or chain of blocks.
In a chain of blocks, all the details of a new transaction are recorded, Marked with the time and verified by agents called "miners", who compete for being the first to solve complex mathematical problems and be able to publish The next block of transactions in the ledger (or the history chain of transactions).
Miners are people who use complex computer systems to solve mathematical problems and obtain a type of financial compensation for their efforts. When the transaction block is uploaded by the miner who was the first In solving the calculation, all the nodes in the network automatically validate the ledger and all the transactions that are in it. Usually, most nodes.
(51 percent) must accept that the block is valid to make a pass and be part of of the chain of transaction blocks or blockchain. The transaction blocks are Usually published in the shared book at ten minute intervals.
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