Blockchain is the technology behind all those crypto igaming cards and games that have been taking over YouTube and social media lately. It’s a decentralized database that contains a history of transactions, in which each creator has their own personal copy. That may sound hard to wrap your head around, but nothing could be further from the truth! In fact, the best way to describe blockchain is by saying it’s an infinitely expanding list of records because anyone can add a new one without needing permission from anyone else. This is what makes blockchain so revolutionary, as it continues to grow despite being open-source!
1. It’s More Than a Cryptocurrency
The first thing that many people learn about blockchain is that it’s the technology behind Bitcoin. That’s not entirely wrong, but at the same time it’s not entirely right. There are many different cryptocurrencies on the market which use blockchain, but all of them aren’t blockchain.
A better way to describe what we mean by blockchain is to say that it’s an open-source platform where anybody can read or write applications without needing permission from anyone else, and they’re all stored in an infinitely growing list of records that are accessible by anyone who wants to use them. The key point here is that these applications can be anything; they could potentially replace companies like Facebook, Airbnb and Apple!
2. It’s Not That Hard to Understand
Let’s face it; most of the people who hear about blockchain for the first time don’t really know what they’re talking about. Some people have heard of Bitcoin, and they think that everyone knows how blockchain works too. Which may be true to a certain extent but, like any new technology, there are many different ways of using blockchain. This can make learning about it seem like an impossible task for many people and news approved site.
Take our example with Bitcoin. We’re going to use a simple game as an analogy because we think that game playing is one of the best ways to learn about blockchain. Here’s how it works: Let’s say you have a game of Tetris. In this game you’re putting together shapes into horizontal lines and the more lines you form the more points you earn. Now let’s say that this game is using blockchain technology. In this example we would say that each set of shapes is a block, and in order to stay competitive with other players you must keep joining these blocks together to create lines which are worth specific amounts of points.
To make things even simpler, these blocks don’t just sit there by themselves; they represent things like money or stock shares. This means that you can start a new “block” by contributing to the game with additional points, or you could redeem a block for money or some other valuable asset.
You can also use these blocks to send messages between different players, trade with one another, and even make and keep records of your work. Blockchain technology makes it easier than ever to utilize all of the possibilities that this game has to offer! All of this is possible because there are no central authorities that have control over blockchain so everything on the network is open source. You don’t have anyone telling you what’s right or wrong, and there’s no need to ask permission from anyone else just because you want to set up a new rule for the game.
3. Blockchain Gets Better All the Time
A lot of people have heard of blockchain, but very few people seem to know anything about it! This is because they’ve only learned about the most basic applications that the technology has to offer. Blockchain always gets better and better as time goes on, and it’s going to be a major driving force behind many changes that are soon to come and manual link building.
What we mean by this is that blockchain grows infinitely with each new application that’s added to it, and its growth doesn’t slow down with time; instead, more applications will keep being added and new features will be changing how different people interact with each other. It’s impossible to pinpoint the exact moment when blockchain will reach its peak and stop expanding, but we can say with certainty that it’s only a matter of time until the best applications are developed and then it will be changed forever.
4. It’s the Future of the Internet
Blockchain is so much more than just a way to make money or buy products online; it can be used in almost any industry imaginable. This is because blockchain doesn’t have central servers or points of control, which means that there are no bottlenecks when it comes to dealing with large amounts of data. This is what makes it such a great technology for companies because their applications can scale and get better with time, and the technology is inexpensive to use as well.
Here’s another example of how blockchain could change how we interact online. When you hear the word “Bitcoin” you probably also think of other cryptocurrencies too, right? Well, cryptocurrency isn’t the only thing that uses blockchain or crypto. You can request that your files are divided up into little pieces of information that are linked together in blocks, and then you can store these blocks onto a network where they’ll be accessible to anyone who wants to download them. This means that you could send someone a link to a file instead of sending them all the data directly!