A decentralized and distributed database in an open-source model, in a peer-to-peer character internet network (a communication model in a computer network that provides all its "hosts" with the same rights), without central computers and without a centralized storage space.
It is encoded with the usage of cryptographic algorithms. Innovative and revolutionary blockchain technology is a public and open register that is accessible to virtually anyone. It is fully protected against unauthorized access, however, thanks to the complex cryptographic tools.
Blockchain is mainly used for "booking" individual transactions, payments or accounting records. Generally speaking - its basic tasks are: storing and sending information about transactions concluded on the Internet, which are arranged in the shape of consecutive blocks of data.
In practice, it means that one block includes information about a determined number of transactions. After its "saturation", another block of data is automatically created, then another block and one more, making a kind of a "chain". In this chain, every 10 minutes a new block appears and is sent, containing information about various commercial transactions, shares or stocks, sales, cryptocurrencies and electronic currencies.
The block size depends both on the particular implementation as well as on the characteristics of the specific cryptocurrency. For instance, the size of a Bitcoin network block cannot be bigger than 1 MB, which is a direct result of the BTC protocol specification. Transactions are digitally signed with a public key cryptography. Although the transactions themselves are public, all users remain anonymous for the whole time. Although blockchain technology is currently used to service diverse transactions (trade, currency, stocks), there is ongoing research on the usage of the blockchain as a banking book, document authentication system, digital signature in government administration, or notarization.
All transactions under this technology could take place outside the system that has been functioning for centuries and, therefore, without the participation of public institutions, directly between the parties of the transaction. The blockchain - as the banking book of transactions, with the current technology and computing power of computers - cannot be faked. It is estimated that the power required to break the blockchain network equals... half the Internet! More reliable and valuable information as well as trivia about this cryptocurrency can be found in the Blockchain News category. It includes the most interesting information about the cryptocurrency world, useful for all cryptocurrency supporters. Interesting and extremely useful news available in the articles, make it easier to understand this difficult, constantly evolving industry and the innovative technology that surrounds us.
“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.
Third party cookies:
We also use third-party cookies for the following purposes:
creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
defining a user profile - in order to display custom-tailored content in advertising networks.
External entities that might be source of any third-party cookies on this instant Website are as follows:
Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.
Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).