What is blockchain?

A blockchain is a distributed database that is used to maintain a continuously growing list of records, called blocks. Each block contains a time stamp and a link to a previous block. A blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks and a collusion of the network majority.

Functionally, a blockchain can serve as “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically.” This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, and documenting provenance.

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  • This text looks little bit complicated for me, can anyone explain me in easy way??

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    • Cynthia Nielsen this video explains great! 😉

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  • You can also check this video. Blockchain explained simply :)

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  • thanks for the videos but his this tech might help for me as an author?

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  • Oh, common guys, this another way how to cheat people. The blockchain is used only by hackers who want to steal our money and control our lives! DON'T BELIEVE IT!!! 

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    • Alve Lundqvist We are sure you have such an impression because of Bitcoins which is the most famous thing about the Blockchain. The industry has moved much more further and now the technology is used not only by well-known banks as Deutsche BankHSBCKBC, one of Baltic States Estonia is planning to use it in securing its citizens’ medical data. Even more, Burger King in Russia launched their crypto-currency and it will be in blockchain ecosystem. Hope that convinced you that don't want to steal anyone's money!

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  • Publica's main idea is that Blockchain tokens can represent something more than a record in the public ledger. We use READ tokens not only to prove your ownership of a copy of an ebook but also to grant you the actual access to ebook contents. E.g. you want to support your favorite author? Buy his book before it is written (and while it's cheap)! Once it is written your wallet & e-reader app will allow you to access book contents (while you have it in your wallet, e.g. own that book). After that or before that you can trade your tokens on an exchange, because these are well known ERC20 tokens. We want to give you just the same experience you get with paper books, you can sell them after you read them, or you can give them away etc, when you actually OWN something (this is what Blockchain is built for, right?) is opposite to have a license.

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  • Thank you for the explanation. This got me really interested.

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