Crypto , Bitcoin. Block Chain. NFT. What the hell do they all stand for?. I dont know yet. But im on a New Journey to begin Becoming a Broker for BTC. Ever thought about investing in BTC?? Crypto currency what do they all stand for, and what is some of the History behind the Inception, Of The Block Chain, and Crypto Currencies
Well i though i need to read up and learn More about Crypto and BTC also NFT.And the Block Chain.
So if your Knowledge of The Subject of The Blockchain. Needs improving, So lets learn a Few things together, Shall We?
Where did it all start
The beginning of the first Decentralized block chain, was in 2008, and the name behind it was Satoshi Nakamoto.
Satoshi Nakamoto is the name used by the individual or is a pseudonymous person or person that created the very first whit paper, and with it authorization reference and implementation of the Beginning and the very first Blockchain
What is a White Paper??
A White Paper is an Informational Document.
A White Paper Is an Document that will lay out features of solutions, and this is typically issued by a non profit organization. They will promote this white paper that highlight many parts or pieces of a solution. This is done in accordance with the products and or services it plans to promote.
What is the blockchain??
The sole purpose of the Block Chain Innovation , was to create a currency , A Crypto Currency. Hence to take the control AWAY FROM the financial Elites. In the Financial Sector, Since the Financial Elites had control on Major Currency. And the idea was then to be able to place it back in the pockets that it would work the BEST for. The common man.
Some Terminology
Decentralized
What is the meaning of Decentralized. Then How does it work with the Banking system?
Eloquently put, Or In simple term. This is not a traditional banking system. Simply put. But what this is, Is a network that is Decentralized and records all transactions, and Funds. The way of using a Decentralized Banking system, YouD have complete transparency and are totally secure with the help of the Blockchain.
Now How Does it Work??
With Decentralized Banking. Their is NO 1 Major Controlling Entity, or Authority. Unlike we are accustomed to as to where we have a Central Banking AUTHORITY. like the Federal Reserve. The Federal Reserve is the main Controlling actor in the US.
When the banking system is Decentralized ,such like what the blockchain has to offer. With no central authority. This prevent their being only 1 with complete control.
The process of using Decentralized Banking System . Is much more effecient , and Much more secure than what we have all been using . Well over a Hundred Years/
Will Decentralized banking become the new wave. Well if we allow our elected official that are in control by big finance. The they will do all to stop it.
Hard CAP
What does Hard Cap Mean?
The term hard Cap is used to describe the Limit, or the Ceiling of how high something can go. Like in the instance of the United States National Debit Ceiling.
It just keeps on going and going and going. Yes their is a Limit to the US Debit ceiling, but the Government can pass a new article to raise the Debit Ceiling, Which has been done more times than we care to keep track of any more.
But the Hard Cap as we are to reference here today. Means that when Bitcoin was Created, Their will only be 21 million Bitcoin Created.
Their will never be any more. It was put into the dynamics of the creation of the block chain and Bitcoin. So folks , when their Gone , Their Gone. Their will not be any more created past 21 million.
Peer 2 Peer
Peer 2 Peer is no more than a nervous system that has no central core. Or it is just plainly put. Decentralized.
Like when you send a letter in snail mail.
Me The Sender, I mail a letter. The Post office Picks it Up, The Post Office will also Deliver it to the Recipient,
The central part of this is the Post office. When you have a Decentralized system, or a Peer 2 Peer System. Their will be No Post Office. Hence Decentralized.
So with no Post Office, this is more direct indirect contact of sorts.
Nodes
No i didn’t say Nod, Like i’m Noding to you, No i SAID Node.
What is a Node You may ask, Well my good person . A Node is a devices, or their a group of Devices that work together in a Decentralized Fashion.
And simultaneously. They Store and Share information, or Files , to where a Node, it is it;s own individual Peer.
You ask How Many Different Type of Nodes are their? Good Question, Their are 10, and they all have different functions
Nodes have many different roles that they are assigned to, but their are 3 general purposes that a Node will serve.
- Maintaining the Block Chain
- Validating Transactions
- Accessing Information
A full Node is when you have 7 complete servers or system that have been simultaneously connected to run a Blockchain.
Heres a link for further explaination
The wave of the future.
Many things have happened during the evolution of the Blockchain. And they are continuing to evolve.
This is all new, and since way back in the 1990s . when the very first interweb came out, Wow and the then newly formed Technology . That would eventually turn into what we have today. That is Web3.0 and the Blockchain.
Everything that we do in todays world . It is somehow connected to the Blockchain. What are some of the impacts on Global Change and also Social Impacts?
World Impact of the Blockchain
The Social And World implications of the Block chain. They are Hugh. The ever growing Blockchain has soo many more opportunities that haven’t been explored or , even thought of yet.
The Blockchain will now give the under developed countries a chance to be able to play on the World Stage in all aspects of finance, global commerce. And all along having this making their world a better place.
- #1 Helping people live a more sustainable life
- #2 Saving Peoples Live’s
- #3 Help increase our Consumer Safety
These are just examples. Yes , But i know, I didnt give much of an explanation of each example. I figured if you really want to know what they mean . Youll look them up,.
I truly wasn’t going to write a novel on just the explanation of them LOL. Rite
Everyday. Their will be new ideas . And also additions to the Blockchain. New solutions being put into place to help the World be A better , safer , and More hopefully Humane Place to live.
Endless Capabilities.
When i started to compose this blog about all things Blockchain Innovations. It was to explain more about when and how this all started. And also how this will benefit the World Community. But lets take a small look at other advances in Technology.
We have had for some times Fit Bits, these wearable Devices monitor you Bio of your Body . But these are becoming a very hot item.
We wear these Devices, and they are noting all of you bodies Bio Perimeters. Like your Pulse, Blood Pressure, and many other things. But the Glory of these New Devices, and Now with the Advent of WEB3.0. IS THAT NOW YOUR DATA . medical Data is safe, secure, and the best part is. Once its your, you can profit from ALL OF YOUR DATA being exchanged across the Interweb
The Data that is floating around out their in the cloud. If you dont own your Data. All of these large Companies are taking your Data, AND MAKING HUGE PROFITS FROM IT. Why would you allow all of this. Look into the option of owning your data, and then you can also decide who you would want to share it with. Again back to Medical Data. When you go to the Doctors office. You can have your medical data given to your physician.
The Wave is here. Its never going back to the old hand written way of recording. Check into it, and let yourself be a winner.
Medical Devices on the Blockchain
Free Bitcoin
Response Magic