Blockchain & crypto currencies – What is the link?
The value of Bitcoin recently went up and everyone is talking about it. Though bitcoin has existed for quite some time you might be forgiven for thinking that it’s a new invention. When it first came onto the scene most considered it a hobby and any dreams anyone might have had that one day it would be have great monetary value were just that. Dreams.
Despite the fame that Bitcoin has managed to garner for itself in the short period it has been in existence very few people understand the underlying dynamics of the technology.
Blockchain, is the brainchild of the elusive Satoshi Nakamoto. Part of what makes Bitcoin stand apart from all other technology is how it allows digital information to be distributed without getting replicated.
Even though at first it was created primarily to create cryptocurrency, that is Bitcoin, technologists have found a variety of uses for it.
According to the creators of Blockchain Revolution, Don and Alex Tapscott, Blockchain ir virsgrāmatā saimniecisko darījumu, kas ir neiznīcīgo,,en,To var izmantot, lai ierakstītu kaut ko vērtīgu, tostarp finanšu darījumu,,en,Lai sniegtu jums labāku priekšstatu,,en,pieņemsim izmantot piemēru,,en,Iedomājieties Excel izklājlapu, kas ir atkārtot vairāk nekā tūkstoš reizes tīkla datoriem,,en,Attēls, ka šis tīkls ir veidots, lai regulāri veikt atjauninājumus uz izklājlapu,,en,Tā ir visvienkāršākā definīcija blockchain tehnoloģijas,,en,Informācija, kas ir ietverta blockchain ir ne tikai kopīgs, bet tiek turēts sinhronizēta ar datu bāzi,,en,Tas, protams, ir vairākas priekšrocības, ne tikai starp tiem ir fakts, ka, tā kā šī informācija netiek turēti vienā vietā tas ir ne tikai ērti pieejami, bet var piekļūt ar vieglumu, kā arī,,en. It can be used to record anything of value including financial transactions.
To give you a better idea, let’s use an example.
Imagine an Excel spreadsheet that has been replicated more than a thousand times in a network of computers. Picture that this network is engineered to regularly make updates to the spreadsheet. That is the most basic definition of blockchain technology.
The information that is contained in the blockchain is not only shared but is kept in sync with a database.
This of course has a number of benefits not least among them is the fact that since the information is not kept in a single location it is not only easily accessible but can be accessed with ease as well. Tā kā šī informācija netiek centralizēti ievietots neviens hakeris var piesārņot informāciju,,en,Divi citi ieguvumi blockchain, kas padara to spēcīgu infrastruktūra ir fakts, ka, tā kā informācija tiek saglabāta, saglabājot identiskas blokus informāciju visā savā tīklā, tas nav viena atteice,,en,Ņemot vērā to,,,en,to nevar kontrolēt ar vienu vienību,,en,Daudzi eksperti ir definētas šo tehnoloģiju kā tīkls, kas ir stāvoklī vienprātības,,en,Ir vērts atzīmēt, ka blockchain pārbaudes pati katru,,en,Ko tas nozīmē, ka tehnoloģija sinhronizē visus darījumus, kas notiek katru,,en,Darījumi tiek saukta blokā,,en,Blockchain sastāv no tīkla mezglu,,en.
Two other benefits of blockchain that make it a robust infrastructure is the fact that since information is maintained by storing identical blocks of information across its network it doesn’t have a single point of failure. Due to its nature, it may not be controlled by a single entity.
Many experts have defined the technology as a network that is in a state of consensus. It is worth noting that the blockchain checks itself every 10 minutes. What this means is that the technology synchronizes all the transactions that take place every 10 minutes.
Transactions are referred to as a block.
The blockchain consists of a network of nodes.
Jebkurš dators, kas ir savienots ar blockchain ar klientu, kas ir atbildīga par uzdevumu izklāšanas un darījumu apstiprināšana tiek minēta kā,,en,mezgls,,en,Lai vēl vairāk sarežģītu vienādojumu katrs mezgls ir administrators blockchain,,en,Galvenais stimuls par ieguldījumu tīkla, ir iespēja iegūt Bitcoins,,en,Kā Vai Datoru Make Bitcoin,,en,termins, ko parasti izmanto, ir "ieguves" Bitcoin,,en,tas ir nepareiza lietošana, kas nozīmē, ka nav reāla ieguve notiek,,en,Katrs dators "mīnas" bitcoins, risinot ļoti sarežģītas skaitļošanas puzles,,en,Ar laiku puzzles iegūt grūtāk un tāpēc nepieciešams vairāk skaitļošanas jaudu, lai atrisinātu,,en,Šī skaitļošanas jauda prasa vairāk resursu būtības palielinot vērtību Bitcoin,,en node.
To further complicate the equation every node is an administrator of the blockchain. The primary incentive of contributing to a network is the opportunity to gain Bitcoins.
How Does A Computer Make Bitcoin?
In fact, the term normally used is “mining” bitcoin. However, this is a misnomer in the sense that no actual mining is taking place. Each computer “mines” bitcoins by solving very complex computational puzzles. With time the puzzles get harder and thus need more computational power to solve. This computational power requires more resources inherently increasing the value of bitcoin.
Ir ierobežots skaits Bitcoin ar blockchain un vairāk Bitcoin ir jāizrok jo grūtāk kļūst, lai uzvarētu kriptonauda,,en,Bitcoin Maki,,en,Tāpat kā ar personālajiem datoriem Bitcoin ir lietotāja saskarne, kas var tikt izmantoti, veicot pirkumus ar Bitcoin vai uzglabājot to kopā ar citām valūtām,,en,Tas GUI ir pazīstams kā maku,,en,Blockchain Mērķis,,en,Kad blockchain tehnoloģija pirmo reizi tika izgudrots tās vienīgais mērķis bija kalnrūpniecības Bitcoin,,en,tik daudz kas ir mainījies kopš tā laika, un tā tika identificēta izpildīt dažādiem mērķiem,,en,tas ir aprēķināts, ka tur varētu būt vairāk,,en,cryptocurrencies,,en,pastāv dažādas versijas sākotnējo blockchain koncepciju, kas jau darbojas vai atrodas pašreizējā attīstībā,,en.
Bitcoin Wallets
Just like with personal computers Bitcoin has a user interface which can be used when making purchases with bitcoin or when storing it alongside other currencies. This GUI is known as the wallet.
Blockchain Purpose
When blockchain technology was first invented its sole purpose was for the mining of bitcoin. However, so much has changed since then and it has been identified to fulfill various purposes.
Currently, it’s estimated that there might be over 700 cryptocurrencies. In addition, there are various versions of the original blockchain concept that are already functioning or are in current development.
Sakarā ar to, ka blockchain ir decentralizēta tas padara aspektus tradicionālo tirdzniecības bezjēdzīgi,,en,Izmantojot blockchain par stock tirdzniecības darījumi gandrīz kļuvusi vienlaicīgi,,en,Vēl viens pieteikums tiks padarot zemes reģistra ierakstu sabiedrību,,en,Kurš varētu gūt no Blockchain,,en,Finanšu iestādes visticamāk labumu no izmantošanas tehnoloģijas,,en,Saskaņā ar Pasaules Bankas vairāk,,en,miljardiem naudas pārvedumu tika nosūtīti,,en,Blockchain ja piemēro pasaules pārvedumu būtu efektīvi nogrieztu starpnieks,,en,Blockchain Drošība,,en,Tā kā dati netiek turēti vienā centralizētā vietā,,en,hakeri nespēj izmantot sistēmu,,en,Lai turpmāk nodrošinātu infrastruktūru blockchain izmanto šifrēšanas tehnoloģiju,,en,Lai to saprastu ir daži pamata jēdzieni būs nepieciešams, lai saprastu,,en,Publiskā atslēga,,en. By using blockchain for stock trading the transactions almost become simultaneous. Another application would be making the land registry record public.
Who Is Likely To Benefit from Blockchain
Financial Institutions are most likely to benefit from use of the technology.
According to the World Bank over $430 billion in money transfers were sent in 2015. The blockchain if applied to world remittances would effectively cut off the middleman.
Blockchain Security
Since data is not held in a single centralized location, hackers are unable to exploit the system. To further secure the infrastructure blockchain uses encryption technology.
To understand this there are some basic concepts will need to understand.
- Public Key
This is a randomly generated string of numbers that is very long. A public key is a users’ address on the blockchain. When any bitcoin transaction is made the blockchain records the transaction as belonging to that address.
- Private Key
Think of this as a login that a bitcoin owner uses whenever they want to access and transact their bitcoin. In order to safeguard your private key, you need to print it out as it’s safer to keep it that way.
Blockchain as a second level network
According to a survey conducted back in 2016, the value of bitcoins transacted in a single day averaged more than $200,000.
Goldman Sachs is on record for stating that it believes up to $6 billion a year stands to be saved if blockchain technology was used for clearing and making settlements.
Blockchain Applications
- Smart Līgumi,,en,Kā tas darbojas, ka līgumi izpilda tad, kad ir sasniegts konkrēts nosacījumu kopums,,en,kad finanšu instrumenti atbilst dažādus kritērijus tas varētu novest pie maksājumu atvasinājumu,,en,Dalīšanās Ekonomika,,en,Dalīšanos ekonomika ir izrādījusies liela hit ar daudziem jaunizveidotiem kuri izmanto jēdzienu,,en,Veicot peer to peer maksājumus iespējamos,,en,blockchain nodrošina tiešu mijiedarbību starp pusēm,,en,kopfinansējuma,,en,Iesaistot cilvēkus produktu attīstībā potenciālie klienti varētu būt teikšana kā tiek radīts produkts,,en,Blockchain tehnoloģija būtībā ņemt to uz nākamo līmeni,,en,Tas būtu iespējams pūlis avota riska kapitāla fondiem,,en,Valdīšana,,en,Būtu interesanti redzēt piemērošanu blockchain lai pastāvīgi problemātiskajām jomām, piemēram, vēlēšanas,,en,Ja piemērota aptaujās,,en
The way this works is that contracts execute when a specified set of conditions is met. For example, when financial instruments meet various benchmarks it could lead to the payment of derivatives.
- Sharing Economy
The sharing economy has proven to be a major hit with numerous startups taking advantage of the concept. By making peer to peer payments possible, blockchain enables direct interaction between parties.
- Crowdfunding
By involving people in product development potential customers get to have a say in how a product is created. Blockchain technology would essentially take this to the next level. It would be possible to crowd source venture capital funds.
- Governance
It would be interesting to see the application of blockchain to persistently problematic areas such as elections. If applied in polls, blockchain tehnoloģija būtu rezultāti, publiski pieejama un ticama, jo tās pilnībā caurspīdīga raksturu,,en,Supply Chain audits,,en,Arvien kā patērētāji aizvien vairāk apzinās, ka ir pieaug vajadzība pārbaudīt uzņēmuma produktus,,en,dimantu tirgū tur ir nepieciešams, lai pierādītu, ka uzņēmums nenodarbojas ar asins dimantiem,,en,To var panākt, izmantojot laika štancēšana, kas ir balstīta uz blockchain tehnoloģijas,,en,Produkta numurs atbilstu datumu un izcelsmes vietu,,en,File Storage,,en,Izplatot informāciju pāri blockchain būtu grūti failus informācijas nu pazust vai uzlauzts,,en,Par to, kā blockchain tehnoloģiju sarakstu var izmantot, ir bezgalīgas,,en,Visas šīs iespējas ir tas, kas padara blockchain tik aizraujoši,,en.
- Supply Chain Auditing
Increasingly as consumers become more aware there’s a growing need to verify a company’s products. For instance, in the diamond market there’s a need to prove that the company does not deal with blood diamonds. This can be achieved via time-stamping that’s based on blockchain technology. The product number would correspond to a date and location of origin.
- File Storage
By distributing data across the blockchain it would be hard for files of information to either get lost or hacked.
The list of how blockchain technology can be used is endless. All these possibilities are what makes blockchain so fascinating.
Author Bio:Over the many years we’ve been in operation, Florida Vocational Institute has built a solid reputation in the technology space. We are regular contributors to developer blogs.
