Learn about blockchain and why it is important to use – learn right now [2023]

What is Blockchain, The question comes when you go to vote, have you considered whether your vote really matters? And if you meet someone on social media, how do you really know that person is who they say they are? When you read a slogan on a coffee that says its origin is Brazil, how do you know it’s true?

To be sure of the answers to these questions, you need a system in which information is recorded, facts are documented by their owners, and to ensure that this information is not tampered with. Is. Thus, one cannot cheat the system by tampering with the records as everyone using this system can see who made any changes and what.

Most Asking Question What is Blockchain?

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What is Blockchain

These systems, and the software that supports them, are called blockchains. This software is based on storing information in multiple personal computers, which distributes it and away from personal control so that no one can control it, and anyone can access it, this is important because permanently destroying this information Difficult to distort or sabotage. Due to decentralized distribution

The people running the system use their computers to block a packet of this information in chronological order. This so-called blockchain uses a method of cryptographic mathematics to make it more difficult to hack, while these blocks are distributed across multiple personal computers for a small fee to the computer’s owners.

You must have surely heard of bitcoin or 100% digital currency before and it is by far the most successful real application for this series. 

Bitcoin differs from PayPal and credit cards because there is no middleman, bank or any financial institution involved in the process. Conversely, anyone can transfer bitcoins to someone else by setting up transactions for a small fee, even on their personal devices. Bitcoin has a well-known value in the market, but many differ on its consistency, as it does not have the basics of currencies or other economic roots that help it succeed.

Although bitcoin has not yet proven its success, it is only an application in the early stages of the blockchain, or information block chain, and its advantages are owned by only one owner, for example, which reduces counterfeiting, and This attribute is attributed to the chain and not the currency.

In the future, this technology will be able to verify the accuracy of certain information in a hospital, for example, on its own, and it may be able to launch companies managed with algorithms entirely on the network, and perhaps automated. Can also manufacture cars. 

Collaborate with 3D printing, and it will help protect our digital identity information, and it can help insurers check their fingerprints when applying for compensation, track billions of connected devices , can track donations to ensure that they reach the people who really matter, and even help us with government transactions in general, for example, the Government of Dubai started storing all its data on-chain in 2020. This innovation will change our lives forever because a distributed information network is very useful and this is just the beginning.

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