Blockchain What is it?
A case of permanent record as Edward Snowden would say. You can’t edit it out, remove it. Once the data is written into the ledger. It is like it is etched in stone. A digital stone. Into this programmed algorithm. The record is fully transparent as it is with Bitcoin. In so that anyone can view the ledger, in its entirety. They don’t even have to download the full node. Which is many gigabytes to view it. They can go online and use a web based services like blockchair.com, btcscan.org or even blockchain.com
You can view a variety of different blockchain types like Bitcoin, Ethereum and other alternative blockchains. On Blockchair you can view Cardano, Ripple, Dogecoin, security coins like Zcash and many other altcoins.
Because all transactions are recorded on this publicly accessible ledger. It means anyone can track transaction history’s including the assets associated with any of these transactions. It doesn’t have to be solely digital assets that can on blockchain ledgers. These records can relate to real world assets and account for real world business as-well. We will be seeing more of this as the technology is adopted, more and more. Primarily first in the finance, then technology, then the other sectors are expected to follow suit as the trend grows. A bit like how the internet was adopted for the first time in the 80’s. Blockchain technology is set to takeover worldwide.
Is important for business’s. However runtime issue’s of slow chains is still a major drawback for many adopters of this technology. It is immediate shared data that appeals. Their may be issue’s tho if business’s start to use blockchain ledgers that are private, unto only those working for that business. It may still remain immutable within the business that allows its members to view the ledger. However if it is not publicly accessible. Their is a question as to why they would not want thier business info fully transparently viewable. Lets hope it is just because they don’t want thier competition to get an edge on them and is in all due course for healthy business competition and not secret fraudulent activity, as we have had enough of that already.
Unconditional love and joy.
Namesté
