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About blockchain in a few words

People ask me myriads of questions about blockchain so I decided to write a short note and will try to make it as simple as possible.

First of all, blockchain is about storing data. It can function without Bitcoin, Ethereum, and cryptocurrencies in general. Its necessity is a secondary question, but potentially it is possible.

Secondly, blockchain is the way, method or principle of data storage. It’s not programming language or stack of technologies. The ideal language for blockchain is C ++. And do not argue!

Third, when blockchain is discussed in crypto circles, it is referred to cryptocurrency (most often Bitcoin or Ethereum), because it is a ready-made platform and an ecosystem.

Fourth, my favorite, blockchain is a philosophy, a worldview and a position towards most of the social processes. Decentralization, transparency, openness, and accessibility is just like “Freedom, equality, fraternity” of the French Revolution!

Fifth, the most important thing about the blockchain and examples about the granary book, which I myself did not fully understand. In order to finally understand the principle of work of the blockchain, it is necessary to compare it with NOT-blockchain or with the usual server.

Imagine yourself that there is a bank that stores all records of transfers on one server. This server can be potentially highly protected, but in the modern world you can hack anything, it’s only a matter of time and money. After hacking it, a hacker can write anything in the database of this server, for example, to charge a million dollars to his account.

The blockchain is about storing the database by each user in their own system. Thus, hacking the access to the computer of one user will not be effective, because the modified information will not be accepted by other computers of the system. Of course, there is a possibility of “hacking 51{128f65f57952898433d131c378e017c56c5fba43d74c0ad693e2e83283c1a66e}”, but there is still not enough of computer power.

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