After I made some hundreds of USD on Bitcoin I became fascinated, and I finally found out some super basic stuff. I'm passing it on to you in a non-boring way.
So you know Microsoft Word? Like I create a document, email it to you, you make some changes and email it to me, and we go back and forth. And you know Google Docs? I create a document, and in real time, you make changes to it and we bounce ideas back and forth. Much faster. The blockchain is like Google Docs.
Also, the information in the block chain is decentralized. It's held on thousands of different computers, and the computers it's held on change.
Once information is on the blockchain, it can't change. This means your proof that you paid something is irrefutable.
So the blockchain isn't actually just for currency. It can be used for anything. Voting on a blockchain cannot be corrupted.
Currency is just one manifestation of the blockchain.
There are many different ventures popping up that use the blockchain. People are working on energy grids, for example. So a neighborhood can give off any extra energy it doesn't need to another neighborhood through the blockchain.
Basically, by buying Litecoin or Bitcoin or Mybit, etc you're investing in an idea and a venture.
It's really a very exciting world. Now you have a very basic understanding of what the blockchain is and why it's so exciting.
Ta da!
Thank you for posting that tutorial on the Snake Diet's page.
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Hi fellow Snake Dieter! Glad it could help. Reach out to me if you have any more questions about Steemit.
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