Therefore while you may not be familiar (yet) with BlockChain Innovation. Also, we are working to add amazing programs, services, and products that are moving into the inevitable future of BlockChain.
BITGEX the Cryptocurrency Exchange for Vetted Cryptocurrencies that utilize Staking. Certainly, this is another Disruptor and Revolutionary program backed by the Blockchain. Powered by the “Green” and efficient Cryptocurrency of Bitcoin Green. Proof of Stake and Efficiencies in Crypto are here and building the future. Also, this is BITGEX (Bitcoin Green Powered Exchange). See the way Crypto was meant to be for all when you get involved and connected with BITGEX. See it all here:
Blockchain Details: Get an education from our blockchain details and information page. We have a compiled resource page to help anyone to get a grasp of what this is. More importantly what it all means. We also have resources on how you can benefit from the blockchain. Get informed here:
Cryptocurrency Information and Support: We have a beautiful resource page created to explain and inform you about Cryptocurrency. You will also gain resources to an amazing solution for a Crypto Wallet and System for purchasing and exchanging Cryptocurrencies. See the information here:
Cryptocurrency Mining: While you can go “all-in” and become a Cryptocurrency Miner. You can learn about mining for BTC, ETH, or any of the various Cryptocurrencies. Or you can follow the easiest system to date by joining our Mining Community to turn your non-used time and resources on your personal computers into Micro-Mining machines allowing you to earn BTC (Bitcoin). Start earning Cryptocurrency Here:
CRYPTOCURRENCY WALLET: We have the only blockchain Wallet you will ever need. Not only can you become an accredited investor for purchasing ICOs; but end users of Crypto-Currency can have access to the best and most available Blockchain Wallet for the Cryptocurrency Phenomenon. Get your OMINEX Wallet here:
Travel (everything travel related) on the blockchain: Therefore you can say that you saw this here first. Also, we were the first to jump on-board with this travel phenomenon. Remember when the Internet changed Travel forever. Certainly, it is happening again on the blockchain and we have it first. Get going with Decentralized Travel here.
For more education on this, please see our Blockchain Details and Information Page Here. And keep up to date as we update and add to this Category Page. These updates and new services are not only going to make things in life better but can provide a way to share in the incomes they allow investors small and large.
First of all to help in the world of changes, here are some blockchain details and information everyone needs to know about. We collect some useful information to help you get up to date.
Furthermore the blockchain an incorruptible digital ledger. So economic transactions that can be programmed. Blockchain records not just financial transactions but virtually everything of value.
WAIT – Let’s make this more simple for you. Blockchain Details Broken Out in Simplicity:
- Also the blockchain like a huge, global, decentralized (meaning no one system is the “Central” authority) spreadsheet.
- So it keeps track of who sent how many coins/tokens/information sets to whom.
- Furthermore in the case of Coins/Cryptocurrency; it tracks what the balance of every account is.
- As a result, it stores and maintains thousands of people (miners) across the globe who have “special” computers.
- Certainly, the blocks contained within the blockchain are made up of all the individual transactions sent and received through the blockchain. For instance, all individual transactions sent from places.
- Therefore when you access your Cryptocurrency Balances on O.M.X.com or any other Blockchain Wallet. Certainly, view your transactions on various and specific sources like blockchain.info. Also so you are seeing data on the blockchain, not in any one personal system.
More blockchain details and Benefits to all of us:
Blockchain a system (decentralizing) to bring everyone to the highest degree of accountability. Resulting in:
- Therefore no more missing or corrupting transactions.
- Also so an end to human or machine errors. No more corrupt or broken databases.
- Certainly an end to transactions or exchanges (made in error) without the consent of the parties involved.
- Furthermore, the blockchain guarantees the validity of a transaction by recording it. Also not only on the main register but on a connecting distributing network of registers. All of which connect through a secure validation protocol.
Most of all Blockchain technology is explained best by considering it Internet 3.0. (Evolution of the Internet – better – safer – truth).
Certainly, the blockchain is an undeniably ingenious invention. Above all the brainchild of a person or group of people known by the pseudonym. But since then, it has evolved into something greater. So the main question every single person is asking, and we are here to help explain.
Also, it creates an endless and constantly up to date and accessible database. Hence, blockchain technology created the backbone of a new type of internet. This is the internet evolving to where it is better for everyone globally.
So Originally it makes for the digital currency, Bitcoin, the tech community. Because is now finding immediate and potential uses for the technology.
So everything we saw happens with the Internet changing commerce and how things are being done and communicating. As a result, is not being re-done in a new revolutionary method with blockchain.
Due to recent proof of Bitcoin and the creation of blockchain; Bitcoin has been called “digital gold.” Seems like it is a great name for it; as it has proven to be just that.
Therefore to date, the total value of the currency is close to $350 billion US. Probably far more by the time this is read. And it doesn’t stop there, as blockchains can make other types of digital value.
Blockchain details do not need to be fully understood to be used by us all:
This type of database – let us explain the blockchain details even more:
Also Simply, picture a spreadsheet that is shared thousands of times across a vast network of computers. Then realize that whenever a secure and valid truth of any update is processed, this network regularly updates this spreadsheet.
So if you can grasp this concept, you have a basic description and understanding of blockchain. Some benefits to this process and function include:
Information held on a blockchain exists as a shared, and continually validated and reconciled database.
The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable.
No centralized version of this information exists for a hacker to corrupt.
It is hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.
Ultimate Security and Transparency. Truth.
Blockchain Details: Durability and robustness
Therefore Blockchain technology is similar to the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network; the blockchain cannot:
Be in control by any single entity.
Therefore has no single point of failure.
Be corrupted or stolen.
Blockchain details from the history of its Invention/Creation:
First of all, Bitcoin was first invented in 2008. Since that time, the Bitcoin blockchain has been operating without significant disruption. So To date, any of the problems associated with Bitcoin have been due to hacking or mismanagement. In other words, these problems come from bad intention and human error, not flaws in the underlying concepts.)
Certainly, the internet itself has proven to be durable for well over 40 years. Also, this is a track record that bodes well for blockchain technology. So it continues to be developing and sent for all uses and solutions for the Global Community we live in.
Blockchain details on being Transparent and incorruptible
Also, the blockchain network lives in a state of constant consensus. Therefore, it is one constant consensus that automatically checks in with itself every ten minutes.
So this is a kind of self-auditing ecosystem of digital value. The network reconciles every transaction that happens within ten-minute intervals. Each group of these transactions is knowing as a “block”. As a result, here are two important properties created by blockchain:
- So Transparency data is put within the network as a whole, by definition it is public.
- Therefore it cannot be corrupted. To alter any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network. Something that is virtually impossible and becoming a larger and larger barrier constantly.*
*In theory, this could be possible. In practice, it’s unlikely to happen. Hence, taking control of the system to capture Bitcoins, for instance, would also have the effect of destroying their value.
Blockchain details: A network of nodes
A network of computing “nodes” make up the blockchain.
Node (a computer connecting to the blockchain network using a client that performs the task of validating and relaying transactions). Also a copy of the blockchain, which you get automatically upon joining the blockchain network.
So together they create a powerful second-level network, a wholly different vision for how the internet can function.
Nodes and their role in the first blockchain example: bitcoin.
So every node is an “administrator” of the blockchain and joins the network voluntarily (in this sense, the network is decentralized). However, each one has an incentive for participating in the network.
Also the chance of winning Bitcoins (competing to solve and be verified as the solution), proving proof of work.
Because of it than creating the “minted” blockchain of information. So being rewarded a specific amount of bitcoins for the completed block in the blockchain.
Because the internet was once just a way to share “emails” and information. And grew into massive commerce, jobs, and revolutionary industry.
Hence, as a result of blockchain, it is already happening again. So it’s evolving to the next level of technology based on decentralizing solutions and “truth”.
First of all, there are every growing Bitcoin-like cryptocurrencies (exchangeable value tokens) already available. Also, there is a full range of other potential adaptations of the original blockchain concept.
That is currently active or in development. Because there are no barriers; the uses and deploy solutions will be a part of our everyday lives. So if not already in the immediate and every advancing future.
Blockchain details: The idea of decentralization
Also, the blockchain is a decentralized technology, as it was originally thought of.
Anything that happens within the blockchain is a function of the network as a whole. Hence, some important implications are now realized by this:
- So By creating a new way to verify transactions; aspects of traditional commerce could become unnecessary.
- Also, Cryptocurrency and Token trades become almost simultaneous on the blockchain. Realizing a Global economy of trade operating 24/7/365 with no market opening or closing. Global.
- Because Vital record keeping, like a land registry, is now fully public.
- Also, a global network of computers uses blockchain technology. Also to jointly manage a database that records and make transactions. Making information up-to-date and available at all times.
As a result, the blockchain is managed by its network, and not anyone’s central authority. To add definition; “Decentralization” means the network operates on a user-to-user (or peer-to-peer) basis.
Therefore, this creates “truth” and the possibilities from all forms of mass collaboration. This makes possible are just beginning to be investigating.
Blockchain details: Who will use the blockchain?
Also, keep in mind; you do not need to know about the blockchain for it to be useful in your life. Like computers, they have been enhancing everything around us with or without our knowledge of them and how they function.
Therefore currently, finance offers the strongest use cases for the technology. International remittances, for instance. As a result, the World Bank estimates that over $430 billion US in money transfers were sent in 2015.
Seems like Jobs and Careers are abundant in the blockchain. At the moment there is a high demand for blockchain developers. This is not going to slow down.
Therefore, implications for evolving into the blockchain is relevant for virtually everything.
Consequently, the blockchain potentially cuts out the middleman for all types of transactions. Hence the reason new methods for generating and being part of creating new monetary gains are higher than ever.
Because the financial sector and use of blockchain cryptocurrencies became accessible to the general public with the invention of “wallet. These were first used by people to buy things with Bitcoin. And to be able to store and access it along with other cryptocurrencies. We recommend O.M.X for any blockchain wallet.
Because in addition to many things and industries created by the blockchain. And this created a huge need for compliance and identification and verification. O.M.X the leader in blockchain compliant solutions and user “wallet” for cryptocurrencies.
Blockchain details: Enhanced security
Above all the security, validation and “Truth” offered by blockchain is revolutionary and necessary for total global solutions in all sectors. By storing data across its network. The blockchain eliminates all of the risks that come with data being held centrally.
Also especially relevant to today’s needs; The blockchain lacks centralized points of vulnerability that computer hackers can exploit.
Consequently, today’s internet has security problems that have plagued all of us. We all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology. Therefore Internet Security, along with almost all aspects of the Internet, has evolved with blockchain.
Therefore methods of encryption are known as public and private “keys”. A “public key” (a long, randomly-generated string of numbers) is a users’ address on the blockchain. Values (such as Bitcoins, or any Cryptocurrency or Designed Variable) are sent across the network. So are then recorded as belonging to that address.
Furthermore, the “private key” is a password that gives its owner access to their Bitcoin, another cryptocurrency, or other digital assets. When you store your data on the blockchain, it is incorruptible. True, although protecting your digital assets will also require safeguarding of your private key.
Blockchain details: A second-level network
Hence, users can transact directly with one another — Bitcoin transactions in 2016 averaged over $200,000 US per day. With the adding of security brought by the blockchain new internet business are on track. Now to completely disrupt the traditional institutions of finance.
Furthermore, if you want to see how much it has grown to go here for the latest in Market Cap (showing you the hundreds of Billions being traded in Bitcoin)
Furthermore As published in 2017; Goldman Sachs believes that blockchain technology holds great potential. Especially to optimize clearing and settlements of financial transactions. They claim it could represent global savings of up to $6 Billion per year.
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Also, this is creating the possibilities of millionaires among even the simplest and non-understanding of us out there. And it is real. In conclusion, this works without you fully understand it.
Certainly, for that reason, this can be a lot to take in. So we invite you to bookmark and come back for more information, or to review this information. Also while the information provided will only increase your appreciation for this education on block