Enter the Blockchain
On the blockchain, nobody knows you're a fridge.

The first distributed blockchain was then conceptualised by an anonymous person or group known as Satoshi Nakamoto in 2008 and implemented the following year as a core component of the digital currency bitcoin, where it serves as the public ledger for all transactions.

What is the blockchain?

The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.

Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

Information held on a blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. 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. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

To go in deeper with the google spreadsheet analogy I would like you to read this piece from a blockchain specialist.

What is Blockchain Technology? William Mougayar, Venture advisor, 4x entrepreneur, marketer, strategist and blockchain specialist

“The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to make revisions to it. The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes, because you are locked out of editing it until the other person is done with it. That’s how databases work today. Two owners can’t be messing with the same record at once.That’s how banks maintain money balances and transfers; they briefly lock access (or decrease the balance) while they make a transfer, then update the other side, then re-open access (or update again).

With Google Docs (or Google Sheets), both parties have access to the same document at the same time, and the single version of that document is always visible to both of them. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.

Imagine the number of legal documents that should be used that way. Instead of passing them to each other, losing track of versions, and not being in sync with the other version, why can’t *all* business documents become shared instead of transferred back and forth? So many types of legal contracts would be ideal for that kind of workflow.

You don’t need a blockchain to share documents, but the shared documents analogy is a powerful one.”

Bitcion Price chart - Updated Thursday 2nd of December 2021 08:41:29 AM - CryptoCurrency Market Capitalizations

Bitcoin Price on Thursday 2nd of December 2021 08:41:29 AM Bitcoin Price on Thursday 2nd of December 2021 08:41:29 AM

How does the Blockchain work?

Showcase of how the blockchain works

Some articles you might also be interested in...

How to monitor the power usage of devices using a Sonoff Pow R2
How to monitor the power usage of devices using a Sonoff Pow R2

Sonoff Pow R2 is a 16A WiFi smart light switch that allows you to remotely manage and control your appliances and monitor your home energy usage. The WiFi light switch works like a power monitor, which allows you to keep track of 99% accurate real-time current, voltage and power on your app.

Read The Article
A smart bulb that works with the eWelink app
A smart bulb that works with the eWelink app

The Sonoff lightbulbs are very affordable and provide you with the basic functionality that a smart home needs. If the budget is tight and you don’t need all bells and whistles of the more expensive lights, Sonoff lightbulbs will do the job just fine. The prices start from $9.90 for the (plastic, White + color temperature) B02 B A60 and $12.90 for the fancy, pear-shaped B02-F-ST64 (glass, retro look, White + color temperature). As far as connected lights go, the prices are very attractive and Sonoff lightbulbs indeed are as inexpensive as you can get.

Read The Article
How to block ads on your network using Pi-Hole and a Raspberry Pi
How to block ads on your network using Pi-Hole and a Raspberry Pi

With Pi-Hole you can block in-app advertisements. Network-level blocking allows you to block ads in non-traditional places such as mobile apps and smart TVs, regardless of your hardware or OS and since advertisements are blocked before they are downloaded, network performance is improved and will feel faster. Pi-hole is a black hole for Internet advertisements.

Read The Article