What is blockchain? How does it work in practice? A simplified Explanation
Hello Friends,
My today's article is for those who are new to the crypto world and are yet confused-what blockchain is and how it works? Here is an article I found on the web that explained it in a very simple way.
What is Blockchain?
Currently, most people use a trusted middleman such as a bank to make a transaction. But blockchain allows consumers and suppliers to connect directly, removing the need for a third party. It uses cryptography to keep exchanges secure and provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can see. This network is essentially a chain of computers that must all approve an exchange before it can be verified and recorded.
How does it work in practice?
In the case of Bitcoin, blockchain stores the details of every transaction of the digital currency, and the technology stops the same Bitcoin being spent more than once. for a simple explanation check the image below.
Why is it so revolutionary?
The technology can work for almost every type of transaction involving value, including money, goods, and property. Its potential uses are almost limitless: from collecting taxes to enabling migrants to send money back to family in countries where banking is difficult.
Blockchain could also help to reduce fraud because every transaction would be recorded and distributed on a public ledger for anyone to see.
Hope you liked it. Do share comment and upvote.
Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered spam.
Spam is discouraged by the community, and may result in action from the cheetah bot.
More information and tips on sharing content.
If you believe this comment is in error, please contact us in #disputes on Discord
Source
This content is copy/pasted off another website with a few words swapped, but without a significant contribution of original content.
Copy/pasting content without consent of the original creator is potentially illegal. Moreover, posting it on Steemit with the intention to make money of it is highly unethical.
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. (quote from steemcleaners)
Repeated copy/pasting, plagiarism or tag abuse is considered spam. Spam is discouraged by the community and may result in action from steemcleaners or other users. (based on a quote from steemcleaners)
On Steemit, you get paid for creating valuable original content, i.e. your own work, not for copying the existing work of others. This is the very essence of what keeps the Steemit economy strong and keeps the Steem currencies from devaluation by inflation. By posting copy/pasted content, you are contributing to the destruction of the very basis of the Steemit economy.
If you feel like this warning is in error, please respond with proof that you are the original creator of this content or an explanation as to why your post represents a significant contribution of your own original content over the original work and proof that you are allowed to use the original work.
Megalosaurus original content rule violations:
[C C-I C-RM P S O]I think you copy paste too the same lines to every person you feel same for. So isn't that a plaigiarism?
You clearly need to educate yourself on Steemit rules, plagiarism and copyright.
Please read this information carefully:
Even though your point is invalid, I will still answer: Indeed many of my comments contain the same information since they all address the same issue many users are struggling with. From my experience, it is not enough to link to the same information because people are not going to read it. For instance, you have ignored many cheetah warnings in the past. People need to feel addressed directly and personally.
In your case, however, you still seem to struggle to understand my comment. Let me summarize:
Plagiarism and copy/pasting is violating the Steemit community rules, and you will get flagged for doing it.
If you continue to post copy/pasted content, I will report you to steemcleaners again, I will flag you, and expose your behavior to other users.
Not if he wrote it :) Be original
Let it be sir @steevc . You guys have power so its no point messing you all. Maybe someday later you might understand things from our eyes.
Honest content deserves rewards. Plagiarism is bad for Steemit
But that is not your job to check. Cheetah and steemcleaners are there. You are just creating a mess nothing more
Lol. It's everyone's job to curate. That works both ways. We build the service we want to see.
Curating is different downvoting and not letting others grow is something different. Already said. you are at a level we don't want to mess with. And on behalf of every noobie and still growing people I can clearly say we don't need you guys to judge or curate us. Thank you.
My other honest posts never received any reward from you. But i did get rewarded as negative when I copied a content. That shows what job you are doing. Honestly did you upvote my any orignal content? However u did downvote my 2 last posts for plagiarism
We're not here to bat you down or condemn you, just write something original and we will leave you alone. Everything I write is just that, why cant you do the same?
Sometimes a person is short on topic. Thats it. Anyways you guys are just not going to understand so y not leave it here. We will discuss on it when we are at same levels. That will be an apple to apple comparison.
Flagged for plagiarism. @steemflagrewards
https://www.weforum.org/agenda/2016/06/blockchain-explained-simply/
I guess cheetah is already there and steem cleaners as well. I hope you can understand what I mean. Also, I mentioned that this article was found on the web. That clearly states it all. Anyways thanx for your concern.
@alok1 kyu bhai aajkl cheetah piche lga rhe ho
Hehe. Inko shaunk h
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.weforum.org/agenda/2016/06/blockchain-explained-simply/
Hi, i just joined steemit. And i dont understand how it works. Pls is there a mobile app for steemit?
No there is no such mobile app
however to understand steemit better you can ping me personally on facebook @ https://www.facebook.com/rajat.jains
!cheetah ban
Accounts has been caught multiple times with plagiarism. Refused to stop
Okay, I have banned @alok1.