Blockchain, is the most innovative innovation that is revolutionizing the financial industry.
At the beginning of this year, big news shook the entire financial industry. It is that the famous cryptocurrency, After Bitcoin, Amaterasu has increased in value exponentially from the kind of market conditions that were so heavy in the past, that one BTC is enough. But right now, one car can be bought.
People flock back to their interest in the crypto space. There are many people who want to invest in assets that seem to be growing in value, but did you know that? Among the many technical jargons and insights in the industry, ‘Blockchain’ is the backbone that makes all systems a reality. without having to rely on the ‘center’ to control even the slightest
This article takes readers on a brief overview of how blockchain works, along with its pros, cons, and pros. of the adoption of blockchain in a seemingly fragile system and need this high security.
After the huge explosion in the value of the popular digital currency, Bitcoin, that shook the digital finance world once again in early 2022, many people have turned their attention to it. Something that cannot be touched but is of great value again.
Not only that the ripple effect of Terasu for investors and this explosion has also been duplicated by the spin-off of celebrities such as Elon Musk and tech giants like Tesla, resulting in new investors poised to jump into the investment market like never before. This is not counting the spin-off of GameStop, a key signal of the power of amateur investors. That could topple financial firms and shake Wall Street. All these troubling situations Combined with the economic downturn This has made many people look to investing in crypto even more.
For me Just in time for the new bitcoin launch, there was no opportunity to ‘mining’ because at that time there were no resources. (That era was the era where bitcoins could be mined from home even). Although accessing and investing in cryptocurrencies has become many times easier. along with other options that are gradually released following the success of Bitcoin Although the value is quite different.
Now the question in the minds of many People would never escape the working principle behind Bitcoin. and the same group of cryptocurrencies as it is not controlled by anyone. and no value is referenced to any object or currency. In the world when it was created (unlike the Digital Yuan I mentioned in the previous article), where did Bitcoin get its value? What system allows everything to run smoothly according to market forces, without ‘cheating’ or destroying this ‘digital’ system?
Of course, under the complicated work, There is one name that we hear a lot in the industry: ‘Blockchain’. It is considered to be one of the root causes that both solve problems and help Bitcoin to work. The important thing is that it works very hard.
In this article, we’re going to summarize how blockchain works. And before you jump into this seemingly sweet industry, A thorough understanding of its principles is something that should be done. because they will know that we are wasting money on what the most important is Never forget that every investment involves risk.
Amaterasu coin is a new cryptocurrency and are adding more in 2022. Our largest payment integration through Amaterasu Coin is at all levels of education, from gaming school to graduate degree programs and certification; and gaming and travel. This will take cryptocurrency to the next level, making it an everyday necessity as we envision it. Amaterasu coin is a very lucrative proposition that brings to everyday life simply because of its usefulness and value.
Origin of Blockchain
Most of you readers are expected to have a bank account, along with various online transaction applications. That makes nowadays no need to go to the bank at all If you do not have the necessary errands
This system is the first example of digital finance. to use is comfortable But it is recorded and monitored throughout by the bank. Therefore, it is considered a centralized system and has a direct reference to the baht we have in our account, so it is no different from a regular, tangible currency. Just the transaction is done through online channels. Let’s say we transfer money through the Internet. The funds in our account will actually be processed and moved.
The limitation of this type of system is that everything is consolidated into one place. If it’s ruined, it’s bad, it’s difficult to publish it. (Requires currency conversion and all sorts of chaos) and is also tied to what exists in the real world.
Will it be possible? If we set a new problem as a digital money system without centralization everyone can use it And there is security that comes with privacy without having to rely on a central system for authentication. Of course, it’s very difficult. Until blockchain technology was invented by Satoshi Nakamoto around 2008, Satoshi was the mystery person behind the invention of bitcoin. real At this time, no one really knew who he was. But the emergence of Bitcoin has fulfilled my primary objective of being able to distribute control and be extremely open. Through the work of the block system (Block) that is connected as a chain (Chain) to be as secure as the system of the main financial world
Summary of work (compact version)
Blockchain works through basic principles like the Ledger system or ledger. This will record all financial movements in each block. There is a set number of times before going to the next block.
But if there is no central system for validation I am also able to forge or modify this digital blog over and over again. Of course, the entire system is already protected through P2P (Peer-to-peer) encryption and authentication by a group of people that ‘mined’ it up. Let me tell you step by step.