What is the Blockchain?

How to make money on the blockchain

The blockchain what is it? A blockchain in a database that controls all digital currencies. But not only crypto but more things. With this technology, transactions can be successfully completed worldwide without a bank. But is the blockchain secure? We explain everything about the blockchain and what you can do with it and why it is not to be missed in the future.

How does the blockchain work?

What is the Blockchain? it is a company founded in 2011. It is a large database that resides on various computer systems worldwide. Every computer that is part of this has a copy. To approve a transaction, all systems check whether it is correct or not. This way, no fraud can happen, every block of blockchain is connected to each other. Because every computer is connected to each other there is no center point. Normally with a Central database there is 1 point where everything goes. That's the couch. Thanks to this technology, it is therefore not necessary to have a bank in between, which saves a lot of money and time. Below is also an image to map what is meant by this.

Why is a blockchain different from another database?
Wat is een blockchain is de blockchain een database? verschil centrale en blockchain database hoeveel blockchains zijn er?

Is the blockchain secure?

Because the database of the blockchain is not managed by 1 system, it is safe. With a central database there is only 1 system that keeps it running. And with the blockchain it is not really possible. If 1 system fails or is hacked. there are still plenty of notes left that take over. So thanks to the fact that every computer gets a new copy, it is not possible to hack everything at once.

The environment and the blockchain.

The blockchain consumes a lot of power. That is because it is not controlled by 1 system but thousands control all blocks. Bitcoin transactions are widely used on the blockchain but already uses more power than all of Switzerland. For some time now, people have been looking for a way to make it more sustainable so that not so much electricity flows through it. Or even a new way for the blockchain.

How do I earn crypto through the blockchain?

What is the future of the blockchain?

The future of the blockchain is big. You can also create a protocol for the blockchain yourself. It is not only for payments but can also be used when sending documents. Much is currently done by post. But in the future it can also be sent via the blockchain. It's faster and safer. Because it is important, for example, it can no longer get to the wrong person and you get it faster. Thanks to the smart contracts of this network, a lot is possible. In the future, it is even possible that we will no longer be able to do without it, just like the debit card.

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