Introduction To Blockchain – For Normal People


If you have tried to investigate this mysterious thing known as Blockchain, you will be forgiven by retiring from horror to the vast darkness of the technical jargon that is often used to frame her. Before we understand what the cryptocurrencia is and how Blockchain technology can change the world, we will discuss what is really Blockchain.To get more information about blockchain visit

In its simplest sense, Blockchain is a digital transaction book, unlike the books we have used to track sales and purchases for hundreds of years. In fact, the function of this digital book is almost identical to the traditional book, which is to record debits and credits among people. This is the basic concept of Blockchain. The difference is that it keeps the books and that it reviews the transactions.

In traditional transactions, one person's payments require another intermediary to facilitate the transaction. For example, Rob wants to transfer £ 20 to Melanie. She can give her money on £ 20 bills or use a banking application to transfer money directly to her bank account. In both cases, the Bank is the intermediary to verify transactions: Rob's money is verified when he withdraws the money from an ATM, or is reviewed by the application when performing a digital transfer.

The Bank decides whether the transaction will proceed. The bank also maintains records of all ROB transactions made and is totally responsible for updating it when Rob pays someone or receives money in his account. In other words, the bank holds and controls records and everything flows through the bank.

This is a great responsibility that it is important that Rob believes that he can rely on the bank of him or he will not risk him with them. He had to be sure that the bank would not deceive him, he would not lose his money, it would not be stolen and I would not leave overnight.