And when one has "active" on the Blockchain-technology platforms used to build the Bitcoin, understanding it even more arduous.
To help users with an easy to understand overview, the following is a list from A to Z update on the status of Blockchain and explains the influence of things like "virtual currencies" and "smart" to "real life".
App and API
The power of Blockchain coming from the encryption of any information used for the Exchange and storage. This, of course, includes the virtual money. But to encode them, users need attributable to the software App and the library code API.
App here is the software support the encrypted information. Some typical examples of the use of Apps need to mention is the Ethereum, Bitcoin though is still the leading virtual currency service today. Ethereum has developed a toolkit for IDE development more App to create software to support "smart contracts" Smart Contract.
The API is the library code, or say a way easy to understand is the long code has been programmed and the system that the user need only call-out is can be used. Blockchain Wallet and Chain is the set of APIS that are widely used by people in the management of programming, support payments and exchange of virtual currencies.
The famous virtual currency and the most widely used today. Use the Blockchain to store and validate the exchange of virtual currencies, the existing value of Bitcoin real up to more than 10 billion dollars.
"Dig the Bitcoin" created the new block and block each time so the fair paid a Bitcoin identified available today, this number is 25, meaning that about 200 to 300 million each block.
The cube block is from the "bill payment" along with enough information about the time as well as money to be awarded. Moreover, the block will become a link in the chain Blockchain.
So any user would also be able to access historical information of all transactions that still complete guarantee the security of information as well as prevent any treacherous fraud.
Craig Steven Wright
Unlike the other technical terms in the list, Craig Steven Wright is a name in the list is the founder of the theory of virtual currencies. Or at least people that the community now that the network is personal excellence behind the nickname Satoshi Nakamoto.
This is the core of Blockchain and Bitcoin. Decentralized and distributed out separating distribution focus.
The information is encrypted by the system Blockchain is not stored in a fixed place can be hacked or influenced by the "human factors" such as corruption and fraud.
Instead, the "chain" Blockchain connect "links" block is saved at the same time on many different machines in your system in the world to ensure maximum security for information encryption and maximum security to users.
This security is the blade when the Exchange server has become popular with money and the most reliable in the world. The fair candidate as single online called Silk Road-the Silk Road, Silk Road version 2.0 and higher level than birth then.
The abuse of Blockchain into illegal activities have generated so much notoriety for Bitcoin.
Ross Ulbricht, also known as "the hands of the evil pirate Roberts" in the underworld is the person who directly operates services of buying and selling using Bitcoin. In 2014, after the Silk Road 2.0 dragged collapsed by the FBI, "the hands of the evil pirate" caught and subject to central prison sentence stems, Silk Road version 3 Reloaded has continued his career of crime forums.
Is a direct competitor of the Ethereum, Bitcoin brings to the table the whole new function uses the Blockchain platform?
Blockchain technology itself right from the day promised potential far beyond the host virtual coins and bills alone. Ethereum has clearly noticed this when applying Decentralized/Distributed properties explained above to encrypt or sign contracts. These "virtual" contracts are also called Smart Contract.
The fact that Bitcoin as a service offered by Blockchain, while the Ethereum is a comprehensive upgrade version.
The small start-up company has benefited much from the free market that Blockchain was created. To date, hundreds of companies have been set up to create rows of thousands of jobs around the world.
The company was created to appear in a variety of areas from the economy as FintTech until the start-up technology brings to the Blockchain solution to the Internet of Things (lazy Network universe connected via the Internet).
In addition to many large companies also are gradually accepting the virtual coins and experimenting with Blockchain in order to reap the benefits it brings.
Although, Blockchain and not established as Bitcoin goal money or fame, Satoshi Nakamoto-character behind this technology really are sitting on a treasure indeed entitled Genesis Block
Perhaps in the not too distant future, Genesis Block will reveal his secret and along with that, in a certain place, the founder of the Bitcoin will sit on his super yacht along dozens of beauty surrounding.
Is the code to connect the block in Blockchain and is the result of decoding the computer in "mine train" system in the world. Estimates for about 10 minutes, 1 hash of 1 block is decoded and 25 Bitcoin is released to the market.
The hash is designed so that the information contained within the block can be turned into a hash but otherwise is completely impossible. Not the world just a little editing in the block will generate different hash play count ranges.
So after it is decrypted, the hash of a block will be compared to the hash of the same block it but are dealt with in other computer systems to make sure that the block has the same content and have not been edited.
In this way the hash to ensure absolute safety for the transactions on Blockchain in General.