Blockchain explained in simple english

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(Edited)

Pixabay

I have been all about hive in the past 27 days or so and I have been getting a lot of questions that bother people and kind of hinders them to join the hive network. One of those questions is what really is a blockchain? I have tried so much to explain it to people and so I decided to do a post about the question “what is blockchain?”. It was also quite gray for me too even if I have been aware of crypto sice 2016. A lot of times people confuse bitcoin with blockchain and I must say they are not the same. Bitcoin is a cryptocurrency while blockchain is a record system, more like a database. No cryptocurrency can run without a blockchain as blockchain is the backbone of record keeping for any cryptocurrency.

Story time…..

Once upon a time, Mr A wanted to send funds to Mr B. Mr A didn’t want to use fiat currency (the conventional dollar, pounds) due to the charges and the time it might take. He then decided to send hive to MrB which he got in three seconds. This transaction was recorded and other people started using hive. As different transactions were executed, the transaction information were kept in different collections. This collection of information was stored in a database.
The collections are called blocks and the database is the chain.

What is Blockchain?

A blockchain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a collection of computers not owned by any single entity. What does this even mean? So let’s take it step by step. Blockchain is time-stamped meaning that it gives the date and time of the transaction (most times up to milliseconds). Block chain being immutable means it is not subject to change. This immutability helps to ensure safety and security of funds. The block chain is managed by a cluster of computers which shows every transaction and this allows for transparency.

Bringing everything together,

  1. a blockchain is a series of records of transactions
  2. These records are properly dated and timed
  3. These records are not susceptible to alterations
  4. This series of data is managed by a cluster of computers.
    Blockchain could also be referred to as a chain of blocks write. Simple right? However blocks refers to the digital data which includes the transaction, date and time. Chain refers to a public database which refers to the colllection of computer in the definition above. So when a block is put in a public database this is called a blockchain.
    It can be to be a chain or records stored in the forms of blocks which are controlled by no single authority. When something is not controlled by a single authority, this phenomenon is called decentralization. Decentralization means everyone has access to it not like the central bank which is controlled by the government. This is my easiest way of explaining what blockchain is.

This post was written with the aim of educating newbies and outsiders about blockchain. I will be answering what I can about the subject of the day on twitter. Anyone I can’t answer, I would do well to push the person to @theycalllmedan for further clarification

References

1.blockgeeks
2.Pixabay
3[Investopedia(http://investopedia.com)

Thank you for reading my blog
hive blockchain finance palnet neoxian bdcommunity ocd
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Dear @bhoa:

This post contains extensive blocks of text extracted from other previous posts.
It seems to me that you did copy/paste and spinning words, without indicating the sources.
Source: https://blockgeeks.com/guides/what-is-blockchain-technology/

PH currently created its own anti-plagiarism department and we are fully committed to maintaining original content within the community.

Please read this post:
https://hive.blog/hive-175254/@project.hope/one-more-reminder-about-project-hope-stand-on-plagiarizm-and-post-spinning

Unfortunately, this post will not be curated. If you continue this behavior, we will have the obligation to silence you within the community.

Juan Molina, Project Hope's Co-founder.

cc: @crypto.piotr, @gbenga.

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The aim of this post was to explain blockchain in simple terms. I am really sorry for not referencing. I have referenced the full article. It was an oversight.. really sorry

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That, more than a warning, was advice.
Go ahead, we must lead by example.
We are still friends.

ps: don't forget to always place the sources.

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Dear member of HIVE,

Some whales had asked me to stop with the many messages as they had written to @pfunk to tell him to support me and stop destroying the account. I have stuck to it and stopped. He has now sent out more downvotes and from now on the goal is to comment on every post published on HIVE. We have about 300 HIVE accounts that can be used alternately and will create new accounts daily.

I'm sorry for the automated comments. But we're not being given another opportunity to point out our problem.

For the time being, this news will only be published for one hour, should the proceedings against us be stopped and the donations replaced, we will stop. Otherwise this message will be placed under every post published on HIVE via hundreds of accounts.

Are you sure you really want to post here?

For example, we have a small account here that belongs to a social club in Germany. Donations were collected here, and every month a few dollars were collected.

But since ONE person - the witness at HIVE called @Pfunk (a witness is actually someone who is supposed to represent the members) has problems with the founder of the social organisation, he makes sure that all donations are deducted from the small account. Others who are also in favour of the account are also penalised, and all income is also taken away.

If you publish here, make sure that you only publish what is of benefit to the owners of the assets on HIVE. You must never express your own opinion or criticize someone who is a witness or owner of power.

You will soon find out that you only earn a few cents here. Others, however, sometimes enrich themselves extremely. Look around, you'll soon find that some people get 2 or even 3-digit $ sums for small contributions, but you don't even get 50 cents.

Now that the account has become basically unusable for us, we have made it our mission to inform all new members about what to expect here in the block chain.

There is no way to fight against the rulers of HIVE. One can only inform others and especially new members.

If you want to see how they take away donations for the association, you can see this here https://beeme.icu/?account=nesomi

If you ever want to find out what this is all about, you can do that:
https://peakd.com/deutsch/@nesomi/ve-the-blockchain-of-coldhearts-and-egomaniacs-ve-the-blockchain-of-coldhearts-and-egomaniacs-ve-the-blockchain-of-coldhearts-and-egomaniacs

and

https://peakd.com/deutsch/@nesomi/abuse of power-and-love-the-hive-witnesses radio or abuse of power-and-love-the-hive-witnesses radio

As soon as the downvotes on our account stop and the destroyed donations have been replaced, these comments will be discontinued.

If this action doesn't work, we will comment on less than 1000 newly published articles with this text every day.

Unfortunately we have no other possibility to take action against such behaviour. If you really should stay here you will soon realize that there is no other way to fight injustice than with many messages.

Anyone who has problems with a witness on HIVE I am happy to give the program that automatically distributes hundreds or even thousands of comments.

We will delete this comment if you wish. However, this may take a few hours.
Add a comment "Delete comment"

In the last 10 hours the downvotes were over $100. Consider, if love, not hate, were to decide for some, how much good could be done.

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