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.
Siam Commercial Bank (SCB) has changed its decision about implementing the XRP cryptocurrency into its activity. The information about this fact was made public only when the bank's community began to demand specific information on this subject.
According to a press release from the 23rd of May, the audit company Big Four, Ernst & Young (EY), has begun working on a platform based on blockchain technology which will allow Asian consumers to determine the quality, origin and authenticity of European wines.
In the age of high mobility and unlimited access to the Internet, online education seems to be an idea with high potential. Coreto, a new cryptocurrency platform, is currently being created - its aim is to provide education connected to investment decisions.