You are viewing a single comment's thread from:

RE: BLOCKCHAIN FOR DUMMIES - what would be your explanation? [question from my recent interview]

in Project HOPE5 months ago

Just as in the beginning money were coins based on metals, especially silver and gold, issued by monarchies and ancient empires, it evolved into paper money, the current banknotes issued by governments with their constitutions, each government has local laws on how it should print its Paper money and the global market dictate the prices of currencies, the most important being the dollar, in this same sense the natural evolution of this system is the blockchain where the block code is the technology that supports the issuance of cryptocurrencies being the most important bitcoin, but taking into account that their prices are subject to the global economic market.

So blockchain technology works in a very safe way, so that no one can alter it, in underdeveloped countries governments print paper money without control destroying the economy, in the blockchain something like that cannot happen because it is a large accounting book that is stored in All the computers that participated in that process, you can put your computer to order and collaborate in the registration process, that is why blockchain technology is infallible and ultra-secure, if you transfer money to another wallet that record is stored in all computers and even if there is a catastrophe that damages many computers, the process is recorded in the "blocks" giving truthfulness and maintaining balance in crypto assets that, as they are intangible, generate many doubts in their users.

 5 months ago 

Amazing comment @ramsesuchiha
Thank you for taking the time to share your thought with me

Coin Marketplace

STEEM 1.31
TRX 0.12
JST 0.141
BTC 59787.04
ETH 2153.61
BNB 492.80
SBD 8.63