Blockchain records financial transactions and everything of actual value. B-chain is an incorruptible digital ledger of economic records. Think of a global spreadsheet without a central authority! Block-c tracks bitcoins, tokens and who sends or receives them.
In the case of Coins and Cryptocurrency; it tracks what the balance of every account is. Block-chain stores and maintains records via thousands of people across the globe known as miners. Information sent and received through the blockchain is what forms the blocks in the chain.
When you access your Cryptocurrency Balances on Ominex.com, or any other Blockchain Wallet – you are seeing data on the blockchain. This is information in a global sheet and not in any one personal system. In addition, view your tradings on various and specific sources like etherscan.io, or blockchain.info, etc.
A blockchain is a continuously growing list of records called blocks, that are linked and secured using cryptography.
Bc explained benefits continued….
This system delivers the highest level of transparency because it’s not a controlled system that anyone can manipulate or corrupt.
- No more missed or corrupted transactions.
- An end to human or machine errors. No more corrupt or broken databases.
- An end to transactions or exchanges (made in error) without the consent of the parties involved.
- The block-c guarantees the validity of a transaction by recording it not only on a main register but on a connected distributed network of registers. All of which connect through a secure validation protocol.
Blockchain explains the evolution of the Internet –Internet 3.0 as it were
The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking, and we are here to help explain; is: What is Blockchain?
Consequently, details to what bc is become more clear here. Due to digital information on blockchain being allowed to be distributed but not copied, it creates an endless and constantly updated and accessible database. Hence, blockchain technology created the backbone of a new type of internet. This is the internet evolved to where it is better for everyone globally. Originally devised for the digital currency, Bitcoin, the tech community is now finding immediate and potential uses for the technology. Everything we saw happen with the Internet changing commerce and how things are being done and communicated; is not being re-done in a new revolutionary method with blockchain. Additionally…
Due to recent proof of Bitcoin and the creation of block-c; Bitcoin has been called “digital gold.” Seems like it is actually a great name for it; as it has proven to be just that. To date, the total value of the currency is close to $350 billion US. (probably far more by the time this is read). And it doesn’t stop there, as blockchains can make other types of digital value