How Blockchain will change the World, Economy and our life.

Source: Gartner

Again, Slow and Simple: What is Blockchain???

There are three key components of Blockchain technology:

  • Bitcoins cannot be sent before they have been received. This rule is embedded within the software to prevent fraud.
  • One computer within the Bitcoin peer-to-peer network is selected at random to decide the order of transactions within the 10 minute period.
  • The need to randomly select a computer to decide the order of transactions is because computers within the Bitcoin network are located all over the world. Internet speeds mean that a computer in Australia may receive the order of transactions differently to a computer located in the UK. The computer decides the correct order of the valid transactions.
  • The randomly selected computer is rewarded with new Bitcoins for the verification and ordering of transactions.

Why is Blockchain Needed?

Source: Geektime

So How can Blockchain Technology Change our life?

Banks are Scared of Blockchain!

Blockchain is not only Bitcoin, it’s much more than That

The Blockchain Revolution — Time will Tell

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