In the journey of CryptoTrading 101, it is crucial to understand the fundamental of "Crypto Terminology", we will understand what is Block Chain in simple Term.
What is Blockchain?
I want you to imagine when you are BUY USD$5000 Gucci bag in CHINA. How do you know its real thing? You can either buy at Hotel shopping gallery or Duty-Free Shop,
how do you ensure the Bag is REAL?
Or if you are going to invest in a multi-million art, what is the reliable system to make sure its authenticity.
The blockchain is the way for you to make sure internet services, a single source of truth, a unchangeable fact recorded of
Ledger.
"A Blockchain is a constantly growing ledger that keeps a permanent record of all the transactions that have taken place, in a secured, chronological and immutable way".
(1) Ledger: Track all the transactions in permanently secured fashion.
(2)Constantly growing.
(3) Immutable, once something, records has been added, it can not be altered or change the records.
Quiz:
-Blockchains keep record exclusively in alphabetic order?
True/False
-Records on a Blockchain can be modified at any moment?
True/False
Good intro! Thanks for writing this
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