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Rick Katz
Co-Founder CryptoFundRaiser.com
Bitcoin. Altcoin. Cryptocurrency. Blockchain
Technology. What is this new world we have entered?
database that maintains a continuously growing list of records, called blocks, secured from
tampering and revision. Each block contains a timestamp and a link to a previous block.[6] By
design, blockchains are inherently resistant to modification of the data once recorded, the
data in a block cannot be altered retroactively. Through the use of a peer-to-peer network
and a distributed timestamping server, a blockchain database is managed autonomously.
Blockchains are "an open, distributed ledger that can record transactions between two
parties efficiently and in a verifiable and permanent way. The ledger itself can also be
programmed to trigger transactions automatically."[7]
Blockchains are secure by design and an example of a distributed computing system with
high byzantine fault tolerance. Decentralized consensus can therefore be achieved with a
blockchain.[8] This makes blockchains suitable for the recording of events, medical
records,[9][10] and other records management activities, identity
management,[11][12][13] transaction processing, and documenting provenance.
Blockchain technologies offer a stigmergy approach, enabling systematic cooperation in an
entirely distributed and decentralized manner.[14] They can be considered as hyper-political
and global governance tools, capable of managing social interactions on a large scale and
dismissing traditional central authorities.[15] Blockchain governance may allow human beings
evolve to a Stigmergy Age with leaders without orders, order without law,[16] gift without
tax[17] and communities without borders.[18][19][20]
The first blockchain was conceptualised by 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.[1] The invention of the blockchain for bitcoin made it the first
digital currency to solve the double spending problem, without the use of a trusted authority
or central server. The bitcoin design has been the inspiration for other applications.[1][3]
To Your Success!
Rick Katz
CryptoFundRaiser.com
https://www.facebook.com/groups/cryptofundraiser/