Cryptocurrencies have, without a doubt, entered the mainstream. Cryptocurrencies, which were formerly seen as a fringe internet concept, are now adopted by some of the world's largest corporations and are receiving more media attention than ever before. The good news is that this bodes well for the sector and the blockchain technology that underpins it.
Blockchains continue to accompany us in every aspect of our lives, which is pleasing.
The proliferation of blockchains
It will be a big step forward in terms of transaction speed for countries, trust for people, technology for the world.
Of course, like everything else, Blockchain will have its weaknesses, but I believe that over time these will disappear and it will be a perfect system.
In today's Internet world, data transfer is carried out in many areas (multimedia, communication, web interface, etc.). Blockchain technology, on the other hand, is a distributed database that allows us to transfer assets that we attribute value to, apart from this data.
With the Bitcoin digital currency proposed in 2008 by a secret writer nicknamed Satoshi Nakamoto, the existence of a new international currency began to be mentioned in the world. While Bitcoin was initially considered only as money, it was later realized that the Blockchain technology, on which Bitcoin is based, may have more general uses. In the most general terms, blockchain is the distribution of central trust in the internet environment by allowing a central server or a trusted authority to be removed. Blockchain technology is commonly known as the technology underlying virtual currencies such as Bitcoin and Ethereum. However, this technology has a much wider range with the possibilities it provides and its diversifiable applications.
Blockchain technology has become remarkable because of the role it can play in the more efficient operation of these systems by distributing the central trust structure in trust systems based on a single center, which is one of the important problems of today. Blockchain is a decentralized crypto ledger that names a brand new technology that will reshape our entire life by enabling the transfer of valuable assets in the current internet environment that provides data transfer.
About 80% of all academic research on blockchain is focused on Bitcoin. Less than 20% of studies focused on blockchain applications, including smart contracts. In addition, the researchers ignored the scalability problems of the blockchain, such as throughput capacity and latency. Although it has not fully proven itself to be able to use blockchain on a large scale, especially in banking, both academia and private R&D centers are working hard in terms of scalability and the solutions it can offer.
Eeach investment tool didn't emerge out of nowhere, there were steps where: they initiated themselves, developed and improved themselves, secured themselves. Then they became wide-spread around the world.
In this sense, we can refer to emergence of technological devices. Recently I saw a demonstration that showed which device reached 50M user in which time. It took radios almost 40 years, televisions 13 years, internet 4 years and Facebook only 2 years. If we apply this to investment channels, blockchain technology has passed any of the investment channels.
Yes, investing in gold is more safe, because it has enormous amount of volume. But, it is like this because gold has been one of the initial investment channel. It evolved through time, just like blockchain. I believe there will be so much more to come.
Nothing is staying at dormant phase, everything is changing and evolving. In future, we will see how blockchain will complete its evolution. I believe Etherium's new update will distribute cards of the game again. We cannot prevent the inevitable, it will be one of the updates that will shake the ground. Blockchain promises us a better future, there is no way it would end just like that.
BLOCKCHAIN can be defined as a chain of blocks containing information. The goal of the technique is to timestamp digital documents, making retrospective dating impossible. The purpose of blockchain is to solve the double enrollment problem without the need for a central server.
Blockchain can transfer money, property, contracts, etc., without the need for a third-party intermediary like a bank or government. Used for secure transfer of items. Once data is recorded on the blockchain, it is very difficult to change.
Blockchain is a software protocol (as SMTP is for email). However, Blockchains cannot be run without the Internet. It is also called meta-technology as it affects other technologies. A database, software application, connected computers, etc. consists of systems.
Proof of Work Concept
Hash is an excellent mechanism to prevent outside interference, but computers today are high-speed and can compute hundreds of thousands of hashes per second. Within minutes, an attacker can corrupt a block and then recompute all the hashes of other blocks to make the blockchain valid again.
To avoid this problem, blockchains use the concept of Proof-of-Work, which slows the generation of new blocks.
Prof of Work is a computational problem that requires effort to solve. However, the time required to verify the results of the computational problem is much less compared to the effort spent solving the computational problem. Speaking of Bitcoin, the proof-of-work computation required to add a new block to the chain takes about 10 minutes. Considering our example, if a hacker were to change the data in Block 2, they would have to perform proof of work (this takes 10 minutes) and then make changes to Block 3 and all subsequent blocks.
This kind of mechanism makes it extremely difficult to tamper with blocks. When you intervene in a single block, you will need to calculate proof of work for all subsequent blocks. Thus, the hashing and proof-of-work mechanism make the blockchain secure.
Blokchain is adapting very well, I think. So a little digging is enough to find solutions to problems. Of course, it's still very new. To the world.
But there's a mountain in front of you. He needs to tear this mountain down. But he can't do it all at once. Because of this, even small problems are solved, and stones are reduced from the mountain. Thus, the collapse is facilitated. We can also call the mountain bitcoin opposites and states.
If it can become indispensable by taking solid steps in recent history , bitcoin will be valid around the world.
Blockcagin technology is integrated into real life as time goes by. It is currently being used from voting procedures to the supply chain. It will be used in many categories in the future. A technology that is dynamic and can be integrated into any field. I stand behind it all the way. and you ??
The age is changing. The age of crypto is coming. I first heard about bitcoin when I was in high school. I mentioned bitcoin at home. But nobody knew. No one trusted me enough to invest. In fact, very few people had heard of it. I'm going to college right now. I travel on the bus or tram on the road, and the people around me all know bitcoin. Many even swap in stock market accounts or hot wallets.
So the age of crypto is coming. A unit formerly unnamed is now receiving billions in investment, and even children know it. I wish it to develop further and be all over everyday life.
Good reading, everyone. A great article. I thank Rony Roy, who wrote the article.
We started using the blockchain in our lives, this is very pleasing news, we recently mentioned on this site that Korea will use blockchain while giving a driver's license, so it is slowly entering our lives.
I hope the value of cryptocurrencies increases as the popularity of the blockchain increases, everyone wins
Blockchain, blockchain, or blockchain as it was originally called, is an ever-growing list of records, called blocks, that are linked and secured using cryptography.
In short, the blockchain works like this:
"Suppose his computer (node) has a list of records (accounting ledger). Let the two investigators (miner nodes when using PoW) also host a copy of the same file on their computer decentralized / distributed). When you make a money transfer your computer sends an e-mail to both of these inspectors at the same time informing them. Each inspector takes hasty action and checks that there is enough balance both for this transaction and for the inspector fee to be paid in crypto currency. He hits the "reply to everyone" button and adds a document (proven labor) describing how he did the check. If the other inspector approves, everyone updates their registration list to reflect the new situation."
Each block typically contains transaction data, a cryptographic hash function of the previous block, a timestamp.
By design, a blockchain is resistant to subsequent changes of records. The register used is “an open, distributed ledger capable of recording transactions between two parties in an efficient, verifiable and permanent manner”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network for communication between nodes collectively tied to a protocol and validating new blocks.
If the data in any block is to be changed later, the block containing the data and all subsequent blocks will have to be changed. This requires being selected in the node selection for each block writing and confirmation by the majority of nodes in the network each time, before the next node is written. It is also possible to detect possible abuse, as it is clear who changed it in each block.
But I'm late, there are articles with great information, I read all of them one by one and I have an opinion on many subjects that I am ignorant of, thank you.
Blockchains continue to accompany us in every aspect of our lives, which is pleasing.
The proliferation of blockchains
It will be a big step forward in terms of transaction speed for countries, trust for people, technology for the world.
Of course, like everything else, Blockchain will have its weaknesses, but I believe that over time these will disappear and it will be a perfect system.
Thanks for the article.
In today's Internet world, data transfer is carried out in many areas (multimedia, communication, web interface, etc.). Blockchain technology, on the other hand, is a distributed database that allows us to transfer assets that we attribute value to, apart from this data.
With the Bitcoin digital currency proposed in 2008 by a secret writer nicknamed Satoshi Nakamoto, the existence of a new international currency began to be mentioned in the world. While Bitcoin was initially considered only as money, it was later realized that the Blockchain technology, on which Bitcoin is based, may have more general uses. In the most general terms, blockchain is the distribution of central trust in the internet environment by allowing a central server or a trusted authority to be removed. Blockchain technology is commonly known as the technology underlying virtual currencies such as Bitcoin and Ethereum. However, this technology has a much wider range with the possibilities it provides and its diversifiable applications.
Blockchain technology has become remarkable because of the role it can play in the more efficient operation of these systems by distributing the central trust structure in trust systems based on a single center, which is one of the important problems of today. Blockchain is a decentralized crypto ledger that names a brand new technology that will reshape our entire life by enabling the transfer of valuable assets in the current internet environment that provides data transfer.
About 80% of all academic research on blockchain is focused on Bitcoin. Less than 20% of studies focused on blockchain applications, including smart contracts. In addition, the researchers ignored the scalability problems of the blockchain, such as throughput capacity and latency. Although it has not fully proven itself to be able to use blockchain on a large scale, especially in banking, both academia and private R&D centers are working hard in terms of scalability and the solutions it can offer.
Eeach investment tool didn't emerge out of nowhere, there were steps where: they initiated themselves, developed and improved themselves, secured themselves. Then they became wide-spread around the world.
In this sense, we can refer to emergence of technological devices. Recently I saw a demonstration that showed which device reached 50M user in which time. It took radios almost 40 years, televisions 13 years, internet 4 years and Facebook only 2 years. If we apply this to investment channels, blockchain technology has passed any of the investment channels.
Yes, investing in gold is more safe, because it has enormous amount of volume. But, it is like this because gold has been one of the initial investment channel. It evolved through time, just like blockchain. I believe there will be so much more to come.
Nothing is staying at dormant phase, everything is changing and evolving. In future, we will see how blockchain will complete its evolution. I believe Etherium's new update will distribute cards of the game again. We cannot prevent the inevitable, it will be one of the updates that will shake the ground. Blockchain promises us a better future, there is no way it would end just like that.
Thanks for the article.
BLOCKCHAIN can be defined as a chain of blocks containing information. The goal of the technique is to timestamp digital documents, making retrospective dating impossible. The purpose of blockchain is to solve the double enrollment problem without the need for a central server.
Blockchain can transfer money, property, contracts, etc., without the need for a third-party intermediary like a bank or government. Used for secure transfer of items. Once data is recorded on the blockchain, it is very difficult to change.
Blockchain is a software protocol (as SMTP is for email). However, Blockchains cannot be run without the Internet. It is also called meta-technology as it affects other technologies. A database, software application, connected computers, etc. consists of systems.
Proof of Work Concept
Hash is an excellent mechanism to prevent outside interference, but computers today are high-speed and can compute hundreds of thousands of hashes per second. Within minutes, an attacker can corrupt a block and then recompute all the hashes of other blocks to make the blockchain valid again.
To avoid this problem, blockchains use the concept of Proof-of-Work, which slows the generation of new blocks.
Prof of Work is a computational problem that requires effort to solve. However, the time required to verify the results of the computational problem is much less compared to the effort spent solving the computational problem. Speaking of Bitcoin, the proof-of-work computation required to add a new block to the chain takes about 10 minutes. Considering our example, if a hacker were to change the data in Block 2, they would have to perform proof of work (this takes 10 minutes) and then make changes to Block 3 and all subsequent blocks.
This kind of mechanism makes it extremely difficult to tamper with blocks. When you intervene in a single block, you will need to calculate proof of work for all subsequent blocks. Thus, the hashing and proof-of-work mechanism make the blockchain secure.
Blokchain is adapting very well, I think. So a little digging is enough to find solutions to problems. Of course, it's still very new. To the world.
But there's a mountain in front of you. He needs to tear this mountain down. But he can't do it all at once. Because of this, even small problems are solved, and stones are reduced from the mountain. Thus, the collapse is facilitated. We can also call the mountain bitcoin opposites and states.
If it can become indispensable by taking solid steps in recent history , bitcoin will be valid around the world.
I hope he's always up and getting better.
Thanks for the article.
Have a nice day.
Gelecekte blok zincirini nerede kullanacağız? Keşke geleceğe gidip bunları görebilsek çünkü çok heyecanlıyım
Blockcagin technology is integrated into real life as time goes by. It is currently being used from voting procedures to the supply chain. It will be used in many categories in the future. A technology that is dynamic and can be integrated into any field. I stand behind it all the way. and you ??
The age is changing. The age of crypto is coming. I first heard about bitcoin when I was in high school. I mentioned bitcoin at home. But nobody knew. No one trusted me enough to invest. In fact, very few people had heard of it. I'm going to college right now. I travel on the bus or tram on the road, and the people around me all know bitcoin. Many even swap in stock market accounts or hot wallets.
So the age of crypto is coming. A unit formerly unnamed is now receiving billions in investment, and even children know it. I wish it to develop further and be all over everyday life.
Good reading, everyone. A great article. I thank Rony Roy, who wrote the article.
The development of these processes is really exciting.
We can predict that the real-life contribution of the blockchain will be huge.
Realizing the electoral system on Blockchain will be a big deal.
I hope it will be implemented all over the world soon.
but as you pointed out in your article, there is still a long way to go for blockchain and crypto assets to go mainstream.
With a good education, it is necessary to teach how to explain blockchain and crypto assets.
The future will be better with blockchain.
Thanks for your great article.
You're raising interesting points. More than ETH, I think EOS has the power to be the Blockchain of the Future. Great read. Thanks Rony.
Thanks For The Article Rony
Interesting Read :)
We started using the blockchain in our lives, this is very pleasing news, we recently mentioned on this site that Korea will use blockchain while giving a driver's license, so it is slowly entering our lives.
I hope the value of cryptocurrencies increases as the popularity of the blockchain increases, everyone wins
Blockchain, blockchain, or blockchain as it was originally called, is an ever-growing list of records, called blocks, that are linked and secured using cryptography.
In short, the blockchain works like this:
"Suppose his computer (node) has a list of records (accounting ledger). Let the two investigators (miner nodes when using PoW) also host a copy of the same file on their computer decentralized / distributed). When you make a money transfer your computer sends an e-mail to both of these inspectors at the same time informing them. Each inspector takes hasty action and checks that there is enough balance both for this transaction and for the inspector fee to be paid in crypto currency. He hits the "reply to everyone" button and adds a document (proven labor) describing how he did the check. If the other inspector approves, everyone updates their registration list to reflect the new situation."
Each block typically contains transaction data, a cryptographic hash function of the previous block, a timestamp.
By design, a blockchain is resistant to subsequent changes of records. The register used is “an open, distributed ledger capable of recording transactions between two parties in an efficient, verifiable and permanent manner”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network for communication between nodes collectively tied to a protocol and validating new blocks.
If the data in any block is to be changed later, the block containing the data and all subsequent blocks will have to be changed. This requires being selected in the node selection for each block writing and confirmation by the majority of nodes in the network each time, before the next node is written. It is also possible to detect possible abuse, as it is clear who changed it in each block.
I feel the most alive that I've ever been since blockchain has become a thing.
Blockchain is vital today, but it has yet to reach its absolute popularity.
Once that happens, it looks like we'll need blockchain in almost all of our transactions and most areas of our lives.
The future is the age of technology and in this age blockchain will play an important role.
I just joined this community.
But I'm late, there are articles with great information, I read all of them one by one and I have an opinion on many subjects that I am ignorant of, thank you.