Blockchain is a decentralized and distributed database in an open-source model, in a peer-to-peer character internet network (a communication model in a computer network that provides all its "hosts" with the same rights), without central computers and without a centralized storage space. It is encoded with the usage of cryptographic algorithms.Innovative and revolutionary blockchain technology is a public and open register that is accessible to virtually anyone. It is fully protected against unauthorized access, however, thanks to the complex cryptographic tools. Blockchain is mainly used for "booking" individual transactions, payments or accounting records. Generally speaking - its basic tasks are: storing and sending information about transactions concluded on the Internet, which are arranged in the shape of consecutive blocks of data.In practice, it means that one block includes information about a determined number of transactions. After its "saturation", another block of data is automatically created, then another block and one more, making a kind of a "chain". In this chain, every 10 minutes a new block appears and is sent, containing information about various commercial transactions, shares or stocks, sales, cryptocurrencies and electronic currencies.The block size depends both on the particular implementation as well as on the characteristics of the specific cryptocurrency. For instance, the size of a Bitcoin network block cannot be bigger than 1 MB, which is a direct result of the BTC protocol specification.Transactions are digitally signed with a public key cryptography. Although the transactions themselves are public, all users remain anonymous for the whole time.Although blockchain technology is currently used to service diverse transactions (trade, currency, stocks), there is an ongoing research on the usage of the blockchain as a banking book, document authentication system, digital signature in government administration, or notarization. All transactions under this technology could take place outside the system that has been functioning for centuries and, therefore, without the participation of public institutions, directly between the parties of the transaction.The blockchain - as the banking book of transactions, with the current technology and computing power of computers - cannot be faked. It is estimated that the power required to break the blockchain network equals... half the Internet!More reliable and valuable information as well as trivia about this cryptocurrency can be found in the Blockchain News category. It includes the most interesting information about the cryptocurrency world, useful for all cryptocurrency supporters. Interesting and extremely useful news available in the articles, make it easier to understand this difficult, constantly evolving industry and the innovative technology that surrounds us.
Coinbase is one of the largest cryptocurrency exchanges in the United States. Moreover, its reliability was unwavering until a certain abuse caused the exchange to go to court. The case is still ongoing, there's no end in sight, and the result is still unpredictable.
Amazon is trying to become popular in every possible industry. And, apparently, it is unlikely that the company is going to slow down over the coming years. One of the largest global trading companies is now looking for an engineer that would join the blockchain team.
In the course of human history, blockchain became a breakthrough technology. Since the creation of bitcoin, people have been looking for a different use for a distributed ledger apart from it just creating new crypts. The invention of the Bitcoin-independent blockchain network - Ethereum network turned out to be a breakthrough in the so-called distributed technology
Most of us do not realize what a great impact computer games can have on various sectors of the economy, including finances. Is there a real chance that soon we will be using cryptocurrencies for in-game payments?
On July 18, Geoffrey S. Berman (US public prosecutor in the southern district of New York) issued a press release in which he announced the arrest of Hugh Brian Haney (suspected of drug trafficking in the darknet).
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