blochchain
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Blockchain, a term often used in the world of cryptocurrencies.
How does this technology on which crypto projects are based actually work? Let's see it together.
Blockchain is a technology for storing and transmitting information securely and transparently between users, without going through a third party or a central body.
It is mainly based on four main elements that make it secure and reliable: transparency, security, decentralization and immutability of the information recorded.
Security:
The security of a Blockchain is ensured by the encryption of the information it records. It uses cryptography, a science that consists of applying complex calculations to encode information and prevent its disclosure. This guarantees the security of the data sent in the Blockchain.
Transparency:
All information recorded in the Blockchain is visible to users of the same network. This allows everyone to see what is happening both in the foreground and in the background of the network.
Immutability:
Once information is recorded in the Blockchain, it is no longer possible to modify it. This gives great credibility to the data present in the Blockchain.
Decentralization:
In a Blockchain network, there is no central body controlling the whole. Decentralization is ensured by the community using the Blockchain, which gives decision-making power to each user regarding their own data.
It is on these fundamental principles that Blockchain solutions are designed in various fields of activity. This has given rise to many applications, particularly in decentralized finance (DeFi), which includes cryptocurrencies. DeFi adds some specific protocols to these Blockchains, which makes them even more secure and reliable.
In my next thread, I will explain how DeFi Blockchains work
#blochchain
How does this technology on which crypto projects are based actually work? Let's see it together.
Blockchain is a technology for storing and transmitting information securely and transparently between users, without going through a third party or a central body.
It is mainly based on four main elements that make it secure and reliable: transparency, security, decentralization and immutability of the information recorded.
Security:
The security of a Blockchain is ensured by the encryption of the information it records. It uses cryptography, a science that consists of applying complex calculations to encode information and prevent its disclosure. This guarantees the security of the data sent in the Blockchain.
Transparency:
All information recorded in the Blockchain is visible to users of the same network. This allows everyone to see what is happening both in the foreground and in the background of the network.
Immutability:
Once information is recorded in the Blockchain, it is no longer possible to modify it. This gives great credibility to the data present in the Blockchain.
Decentralization:
In a Blockchain network, there is no central body controlling the whole. Decentralization is ensured by the community using the Blockchain, which gives decision-making power to each user regarding their own data.
It is on these fundamental principles that Blockchain solutions are designed in various fields of activity. This has given rise to many applications, particularly in decentralized finance (DeFi), which includes cryptocurrencies. DeFi adds some specific protocols to these Blockchains, which makes them even more secure and reliable.
In my next thread, I will explain how DeFi Blockchains work
#blochchain
💵 The capitalisation of PayPal's steiblcoin has exceeded $1 billion
The market capitalisation of PYUSD steiblcoin has reached $1.01 billion. According to this indicator, PYUSD has moved to the 5th place in the list of the largest steiblcoins.
The number of active users of PYUSD is about 26,000 per month.
#PayPal #PYUSD #Stablecoin #CryptoNews #blochchain
The market capitalisation of PYUSD steiblcoin has reached $1.01 billion. According to this indicator, PYUSD has moved to the 5th place in the list of the largest steiblcoins.
The number of active users of PYUSD is about 26,000 per month.
#PayPal #PYUSD #Stablecoin #CryptoNews #blochchain
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🌟 Incredible Launch: VANA Price Jumps From 1,337,368,960,35 To 33,337,368,960,35 In One Day! 📈🚀
This new project has seen its price increase by 3050% in just 24 hours.
448061525799395393269298633406293#blochchain #VANA
This new project has seen its price increase by 3050% in just 24 hours.
448061525799395393269298633406293#blochchain #VANA
#WhaleWatchers
After a decade of dormancy, a significant investor who initially purchased Bitcoin for less than $30 recently accessed their wallet, revealing holdings of 1701 Bitcoins valued at $118 million today. Over the years, this wallet remained untouched until recently when $18 million worth of Bitcoin was transferred in 246 transactions, highlighting an average purchase price of $29 per Bitcoin. The investor's last recorded addition to the wallet occurred in 2013, acquiring 4272 Bitcoins at an average price of $29.3. With Bitcoin's current price surpassing $70,000, the investor has realized an extraordinary profit of approximately 240,000%. Despite the surge in activity among old wallets, funds are predominantly being shifted to new wallets rather than exchanges, indicating a prioritization of security over immediate selling. Additionally, a separate report from Lookonchain reveals that another significant investor has been steadily accumulating Bitcoin since March 6, acquiring roughly $90 million worth of Bitcoin at an average price of $68,000.
#btc #blochchain #eth
After a decade of dormancy, a significant investor who initially purchased Bitcoin for less than $30 recently accessed their wallet, revealing holdings of 1701 Bitcoins valued at $118 million today. Over the years, this wallet remained untouched until recently when $18 million worth of Bitcoin was transferred in 246 transactions, highlighting an average purchase price of $29 per Bitcoin. The investor's last recorded addition to the wallet occurred in 2013, acquiring 4272 Bitcoins at an average price of $29.3. With Bitcoin's current price surpassing $70,000, the investor has realized an extraordinary profit of approximately 240,000%. Despite the surge in activity among old wallets, funds are predominantly being shifted to new wallets rather than exchanges, indicating a prioritization of security over immediate selling. Additionally, a separate report from Lookonchain reveals that another significant investor has been steadily accumulating Bitcoin since March 6, acquiring roughly $90 million worth of Bitcoin at an average price of $68,000.
#btc #blochchain #eth