Friday, January 8, 2016

Block Chains – This technology will change the digital world – Sü

The principle of digital currency Bitcoin is to store all transactions in a visible for each user linked list. This technology now encompasses the entire digital world.

Accenture, Cisco, IBM, JP Morgan, Mitsubishi, Intel, Fujitsu, Wells Fargo. , , one can say that it has been given less prominent mergers between companies. The above are determined to maintain their place in the technology and financial world by building – surprise! – Undertake an innovation. Disseminated under the umbrella of the Linux Foundation, a nonprofit consortium that free software in the world, the industrial and service giants intend to dedicate the technology of the block chain.

The what? In fact, the term “block chain” far better known few people. That should soon be otherwise, because it looks that way, as amended the block chain sooner than later much: the way how contracts are as run banking transactions, such as rights, such as copyrights, are managed or how land registers handled become. The merger of the companies is in view of this economic and social potential, only a small step on the road to a world with block chain.

Bitcoins are safe

But what is it all about? Who’s ever come to talk to the concept, has probably heard him in connection with the currency Bitcoin. Bitcoin is especially true as digital, anonymous cash for criminals. This may sound exciting, but the currency is not justified. In fact, Bitcoin is an exceptionally safe and at the same time transparent system that allows anyone who registers for it can send money back and forth. Be it to pay at a café (the Café takes Bitcoin accepted as currency in the US there are already), or to pay off a few debts at a friend’s.

The basis of this system, its implications for the existing banking and classic currencies are difficult to foresee, is precisely this technology: the block chain. As the word clearly suggests there is a (virtual) chain of blocks. These blocks are the transactions of all people who have paid for something with Bitcoin saved. The block chain increases with other transactions and contains in the form of a list, the account balances of all Bitcoin users at any time.

Accordingly, there is the way, incidentally, no virtual “Bitcoin coins”, of which is sometimes reported for reasons of clarity. Rather, the possession of a person who has large sums in the currency, only the credit that is calculated from the current state of digital list for him. The list is – so seen – the same as the currency. Because this list is stored on multiple computers, and is visible to all users, it is guaranteed that they can not be faked. A secure currency – which is in itself very, very much for a young technology



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