And, that is why Bitcoin has eliminated the intermediary step in the process of making transactions. This means that transactions will be made directly from the sender to the recipient with extremely low transaction fees (almost zero) without going through any intermediaries or organizations.
It is difficult to classify the blockchain into a single definition. In this text we will see several.
The blockchain is based on a network and from a functional point of view it allows you to manage a database in a distributed way from an operational point of view it is an alternative to centralized archives and allows you to manage the updating of data with the collaboration of the participants in the network and with the possibility of having shared, accessible, distributed data to all participants. In fact, it is worth repeating it; it allows data management in terms of verification and authorization without the need for a central authority.
It is believed that it may represent a sort of Internet of Transactions. These definitions tend to place the blockchain alongside the Internet of People, or the Internet of people that we use and frequent every day which in turn has extended to the Internet of Things or Internet of things to get to create and represent the Internet of Value based on seven features:
- Decentralization
- Transparency
- Safety
- Immutability
- Consent
- Responsibility
- Programmability
Starting from these principles, the blockchain has become the digital declination of a new concept of trust to the point that some believe that the blockchain can also assume a value for certain aspects of a “social and political” type. To know more click on popular online crypto app
For a certain period, the blockchain has been identified with the Bitcoin Blockchain, which is with the first Blockchain (which as we have already mentioned is identified with the capital “B”). This identification was also superimposed on that with the bit coin crypto currency and led a bit to “confuse” the blockchain with other areas of innovation such as digital currency. Perhaps for the latter reason the blockchain has often been associated with an alternative or complementary digital currency concept and digital payment. In reality, as we will see, the blockchain is a much wider and more complex phenomenon.
How to get them, what to do with them, where to spend them
A Bitcoin is worth € 13,849. But with this currency it is impossible to think of a stable price, both for its young age which makes it unstable, and because it is based on the exchange of users, without regulation. Whenever someone intends to buy a Bitcoin by exchanging it for work or an asset, it independently decides its value. Bitcons theoretically allow you to buy anything, anywhere: many online stores accept it. Even those who do not use Bitcoins, it happens that they open the doors to exchanges with other currencies or work to create something similar (like Amazon).
Peer-to-peer allows the economic transaction and records it. In this way it is possible to buy an object in a shop simply by shooting on a QR Code. Confirming the revolutionary potential of this technology, we can note that since 2014, Venture Capitalists around the world have invested hundreds of millions of dollars in “startup companies” that explore the potential of applying Blockchain technology in multiple sectors of our society.
We can bet that we will hear a lot more about the “block chain” and its revolutionary potential and that soon we will be able to appreciate its concrete applications for our daily life.
Not all cryptocurrencies are equally reliable
There is a lot going on: blockchain and cryptocurrency are two terms that are currently pulling a lot and that are attached to any type of enterprise of this kind, almost outlining their futuristic and futuristic projection. Often blockchain and cryptocurrency are two terms that are expertly manipulated by marketing and advertising to get you hooked on this or that hook.
We could count dozens of cryptocurrencies that have left the time they have found: just think that when we
