What is the Blockchain Technology?
What is the blockchain, how does it work and what does the future hold? The blockchain is a technology, which enables to store data securely, permanently and non-erasable. The blockchain became known through the emergence of cryptocurrencies, which are based on it.
Here, the blockchain acts as a kind of publicly accessible and non-erasable account statement that stores all transactions that are made with a specific cryptocurrency. In contrast to classic institutions such as banks, the blockchain is managed decentralized, namely on several computers, the so-called nodes or miners. This means that transactions can be made peer-to-peer, publicly comprehensible and ananoumously without an intermediate instance. The blockchain is based on a cryptographic process, which executes, documents and encrypts the transactions.
Miner: Miners are therefore the ones, who provide the hardware, which administers and maintains the blockchain automatically through the implemented algorithm of the program. For providing the processing power the miners receive a reward in form of coins, e.g. Bitcoins. The more processing power they provide, the more coins they are able to mine. The effort is therefore profitable and offers all the advantages mentioned.
If you don't want to “mine” on your own, which is also no longer profitable given today's electricity costs, you can join a mining pool. In this case, miners invest into the pool, from which hardware is purchased, which on the one hand manages the blockchain and on the other hand pays bitcoins or other crypto currencies as a return to the miners, equivalent to their invest.
Mining farms are still profitable; it just depends on the right planning!
Save everything decentralized
Decentralize your databases or make data available decentrally
Protect your calendar
Protect contacts and appointments with the help of blockchain application
SmartContract System
Using Smartcontract technology to digitize old Business models and creating a new Economy
Global Trustless Paymentsystem
Electricity, Smartphone, Exchange and a Wallet, is all you need in tomorrow's finacalworld!
Optimize business models - can blockchain help? Blockchain-based projects have the potential to make middlemen, such as financial service providers, notaries or banks in particular, redundant by making transactions, purchases and other processes cheaper and faster using blockchain technology. Accordingly, the institutions are also forced to experiment with blockchain technology, otherwise they risk being overrun by it in the long run. This panic to keep up demonstrates, how powerful blockchain technology can become - if it isn't already.
Another indication,
Therefore, at the moment there is a good opportunity for a safe investment, which experts predict will soon be omnipresent. You can benefit from this practically safe development by taking advantage of the hour and investing in bitcoins or other blockchain-based creations - before they have fully established themselves in the mainstream-market.
As with all other revolutionary technical inventions
Past upcoming Inventions in history, such as electricity or, more recently, the Internet, most underestimate the significante influence, that these inventions will have one day. The underlying idea is the constant and unstoppable optimization of the current status quo, for economic, political, social and always very practical reasons. Because, just as you have switched from gas lamps to light bulbs comprehensively or the power, with which the Internet has influenced countless areas of our lives, technology such as blockchain has good prerequisites for changing the entire financial sector - from private to commercial.
Start-up financing with blockchain - how does it work?
The blockchain can act as a kind of secured crowdfunding to implement projects and has additional incentives for investors
In concrete terms, this would be similar to mining Bitcoin: Miners provide the hardware and within the processing power, which runs the automatic program consisting of administration and maintenance of the project. As a reward, the miners receive a currency invented or specified by the project initiator, e.g. a fantasy coin. This coin is accepted as the official means of payment on the project website leading to potential customers first have to purchase it in order to buy the goods or services offered. For non-profits or other platforms, such as Newspapers, which are financed by advertising, this works as well: Advertisers buy the project's own currency in order to buy the advertising space. Similar to shares, the more successful the core business of the project, i.e. the higher the turnover, the range, the number of tenants, etc., the higher the price the cryptocurrency.
Large companies are therefore getting on the train and are either looking for ways to underpin their products and services with blockchain technology or to invest in start-ups that integrate cryptocurrencies and especially bitcoins. For example, corporations such as Microsoft or IBM are investing in Ethereum - a project that specializes in "smart contracts" - meaning the symbiosis of legal contracts and technology. This can be executed for various sorts of contracts, e.g. if the monthly installment for a car is not paid, the associated keys become unserviceable.
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