What the hell is the BLOCKCHAIN? – BiUP Cryptocurrency Aggregation Exchange
Suddenly one day, Tom was beaten to be a vegetable because he glanced at brother Han’s wife in the neighboring village.
The transaction record was lost. Later, Peter and Jack almost died for the chicken.
Later, the villagers analyzed the matter and thought that all the problems were that Tom had only one. When he was in a coma, he couldn’t say anything clearly.
This is the traditional way of accounting. The bookkeeper is equivalent to our bank and other financial institutions. People call it a central ledger.
The translation is：All the eggs are in one basket.
Once there is something wrong with the centralized account book, everyone should not think about it.
Tom: Jack, I’m sorry for you
Jack: you hurry to die, I don’t want to see you!
Then what shall they do? Find more bookkeepers!
So villagers began to learn about culture. It wasn’t long before Tom A, Tom B and Tom C appeared
After that, when villagers do business again, there will be a harmonious scene that one person buys chicken and the whole village keeps accounts:
Jack buys chicken — a lot of Accounting — Peter sells chicken
This is called distributed ledger.
Since then, every transaction in the village will be recorded in every Tom’s account book.
Even if some of them continue to run to glance at other people’s wives, it will not affect everyone’s trading records.
Jack: No laying again. What else can I say this time?
Peter: I want to be a good person.
So here comes the question: why do so many people keep accounts for you? Is your ass big?
Of course, there will be a reward! There are so many Tom in the village. Everyone’s abilities are different. Some people have good brains, some write fast, some are lucky.
No matter what, there is always a person who is the first to make a clear account.
Whoever keeps accounts the fastest will get a bonus.
This bonus is Bitcoin.
（In fact, Bitcoin itself is very simple. It’s a virtual currency on the Internet. You can think of it as a string of codes）
On the Internet, every day, there are countless Jack and Peter trading, and countless Tom are using computers to calculate, trying to record everyone’s bill information quickly and accurately.
Then they get Bitcoin from the system, and the process is mining.
All these processes are a whole accounting system, which packs the bills every 10 minutes,
Then take a name, block.
Block and block are connected and become a chain. What’s the name of the chain?
It’s called blockchain!
Finally, let’s learn a little point by the way — who invented Bitcoin so casually?
The inventor of Bitcoin is Satoshi Nakamoto, who is said to be a Japanese American.
His whereabouts are extremely mysterious. It is said that he was once nominated for the Nobel Prize, but no one can be found.
Nakamoto has set the number of Bitcoin at 21 million, which is like hiding a pile of treasures, setting off a boom of treasure hunting for the whole people.
OK, blockchain is here~
BiUP is the largest digital currency aggregation exchange with more than 300 trading pairs in the world, which is headquartered in South Korea.
Learn more：https://www.biup.com
Published at Thu, 26 Dec 2019 03:40:00 +0000
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