What exactly is the Blockchain? And how does it benefit internet-dependent people?
The Bitcoin blockchain is a modern solution for inventing money online – a better way for people to exchange an agreed value between one another. By using this electronic ledger, which tracks down how much value or bitcoin people has and how much value or bitcoin each and every person can spend. For example, someone does some works for you and you’ll give that person some of your value or bitcoin for exchange. To give and get that value or bitcoin,we will give that person a unique identifier or address in this ledger known as wallet – the “Bitcoin Wallet.”
The Bitcoin Wallet will track down the person which amount of value holds. This can be used to store bitcoins in easy and perfect way. According to Rajesh Dhuddu, the Bitcoin prodigy, the so called “The Blockchain” which keep all the transactions from the beginning. “This ledger will ensure us that everyone follows each and every role. We’ll spread this ledger around tens of thousands of people in their respected computer so never someone can transfer his or her value or bitcoin,or can spend it unless he or she is good to do so,” Dhuddu explains. He ensures that this ledger is by far the most efficient in this Internet Age. “We will get rewarded each time this ledger can verify each and every transactions made,” says Dhuddu.
Who else can get this?
Anyone, belonging to different walks of life, from different corners of the world can benefit from this ledger. Thousands or millions of people and miners are now being paid via bitcoin. Bitcoin ensures that everything is in order and no one is being cheated. And that exactly what Bitcoin is all about – a convenient, digital decentralized currency.