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What is Blockchain? Here is your Blockchain education. First of all.  Blockchain is a new way to store data. Also, Blockchain is a distributed ledger that allows multiple stakeholders to confidently and securely share access to the same information.

Why does Blockchain matter?

Because Blockchain is a new technology that provides new infrastructure. This helps to build the next innovative applications that are beyond cryptocurrencies. As a result of Its driving profound, positive changes across businesses, communities, and society.

More importantly, Where is it going?

Blockchain will supercharge artificial intelligence. This will also make everything from supply chains to digital identity management smarter and more importantly more secure.

As a result, it Seems like the entire world is changing, and to help in this changing environment, here is some blockchain education, with the help of Ominex.

First of all, the blockchain is an incorruptible digital ledger. All of the economic transactions can be programmed to record not just financial transactions but virtually everything of value. This is very important.

So Let’s simplify this for you.  Blockchain Details Broken Out in Simplicity:

• Blockchain is like a huge, global, decentralized spreadsheet. Meaning that no one system is the “Central” authority.

• Blockchain keeps track of who sent coins/tokens/information sets to whom as well as how many.

• Importantly, In the case of Coins/Cryptocurrency; it tracks the balance of every account is in real-time.

• Customers can be relieved that all information is stored and maintained by thousands of people (miners). Across the globe who have “special” high-powered and uniquely configured computers, These computers keep track of all this important data.

• These blocks contained within the blockchain are made up of all the individual transactions sent and received through the blockchain.

More blockchain education and Benefits to all of us:

Therefore Blockchain is a system (decentralized) to bring everyone to the highest degree of accountability. This will result in:

• Customer Security. No more missed and or corrupted transactions.

• Blockchain will end human or machine errors.  No more corrupt or broken databases.

• This technology Will also end transactions or exchanges (made in error) without the consent of the parties involved.

• Blockchain guarantees the validity of a transaction by recording it. Not only on the main register but on a connected distributed network of registers.  All of which connect through a secure validation protocol.

Blockchain technology is referred to and explained best by considering its Internet 3.0.  (Evolution of the Internet to make it – better – safer – truthful).

So let’s get right down to it… Blockchain is an undeniably ingenious invention.  The brainchild of a person or group of people known by the pseudonym.  Satoshi Nakamoto. But since then.

This has evolved into something greater, and the main question everyone is asking is. What is Blockchain? So here we are to help explain:

Due to digital information on the blockchain that is allowed to be distributed but not is copied. Blockchain creates an endless and constantly updated accessible database.

Hence, blockchain technology created the backbone of a new type or new age of the internet. This is the internet evolved to where it is better globally for everyone.

Originally devised for the digital currency, like Bitcoin. The tech community is now finding immediate and potential uses for this technology.

Everything that we saw happens with the Internet changing commerce. As well as how things are being done and communicated today. This is now being re-done in a new revolutionary method with blockchain.

For example, recent proof of Bitcoin. And the creation of blockchain; Bitcoin has been called “digital gold.”  This is actually a great name for it: As it has proven to be just that.

To date, the total value of this currency is close to $350 billion US. (probably far more by the time this is read).  And it doesn’t stop there, as blockchains can make other types of digital value available.

Don’t worry, Blockchain details do not need to be fully understood to be used by us all:

Like the internet (before blockchain) before smartphones or even computers. You do not need to know how the blockchain works for you to use it.

However, having a basic knowledge of this new technology helps you to understand why it is considered revolutionary and the way of the future.

A distributed database – let us try to explain the blockchain details even more:

Let’s try to simplify this. Picture a spreadsheet that is shared thousands of times across a vast network of computers. Then realize that whenever a secured and validation is updated it is processed.

This network is designed to regularly update this spreadsheet.  If you can grasp this concept, you have a basic description and understanding of blockchain.  Some of the basic benefits of this process and function include:

• Information held on a blockchain exists as a continually shared, and validated reconciled database.

• Most important. The blockchain database isn’t stored in any single location, this means the records it keeps are truly public and easily verifiable.

• No centralized version of this information exists for those hackers out there to corrupt.

• It is Hosted by millions of computers simultaneously, this means that its data is accessible to anyone on the internet.

• Complete and Ultimate Security and Transparency.

Blockchain education: Durability and robustness

Blockchain technology is so advanced that it has a built-in robustness. By storing blocks of information that are identical across its network; the blockchain cannot:

1. Ever be controlled by any single entity.
2. Have a single point of failure.
3. Be corrupted or embezzled.

Blockchain education on being Transparent and incorruptible

The blockchain network lives in a state of continual consensus.  Therefore, it is one constant consensus that automatically checks in with itself every few minutes.

This is a kind of self-auditing digital system of digital value. The network reconciles every transaction that happens within ten-minute intervals.

Each group of these transactions is referred to as a “block”. As a result, there are two important properties created by blockchain:

1. First of all. Transparency data is embedded within the network as a whole, by definition, it is a public record.
2. Secondly. This data cannot be corrupted. So to alter any unit of information on the blockchain would mean using a huge amount of computing power to completely override the entire network. Something that is virtually impossible and becoming a larger and larger barrier constantly.*

*In theory, this could be possible. In practice, it’s unlikely to happen. Therefore, taking control of the system to capture Bitcoins, for instance, would also have the effect of destroying their value.

Blockchain details: A network of nodes

A network of computing “nodes” make up the blockchain.

Together they create a powerful second-level network, a completely different vision for how the internet can function.

Blockchain details: The idea of decentralization

Blockchain is a decentralized technology, this is how it was originally created.

Anything that happens within the blockchain is a function of the network as a whole. Therefore, some important implications are now realized by this technology:

• This has the ability to create a new way to verify transactions. Aspects of traditional commerce could become unnecessary.

• Cryptocurrency and ICO/Token trades become almost simultaneous on the blockchain. Realizing a Global economy of trade operating 24 hours a day 7 days a week and 365 days a year. This means that no market ever opens or closes.  This is Global.

• All Vital record keeping, like a land registry, is now fully public.

• A global network of computers uses blockchain technology to jointly manage the database. That records the structured transactions. Making information up-to-date and available at all times and in real-time.

More Blockchain details: Who will use the blockchain?

Keep in mind: You do not need to be completely be educated about the blockchain for it to be useful in your life. So just Like computers, this technology has been enhancing everything around us with or without our knowledge of what it’s all about and how it functions.

Currently, finance offers the strongest use cases for the technology. International remittances, for instance. As a result, the World Bank estimates that over $430 billion of US money transfers were sent in 2015.

Jobs and Careers are abundant in the blockchain world. And at this moment there is a high demand for blockchain developers. This is not going to slow down folks. Therefore, implications for evolving into the blockchain is relevant for virtually everything in the future.

Consequently, and this is important. The blockchain potentially cuts out the middleman for all types of transactions.  Therefore, the reason new methods for generating parts of creating new monetary gains are higher and more important than ever.

Access to the financial sector is important. So the use of blockchain cryptocurrencies became accessible to the general public with the invention of “wallet” applications.

These were first used by people to buy things with cryptocurrency, like Bitcoin. This also allows us to store and access it along with other cryptocurrencies.

We Highly recommend OMINEX for any and all blockchain wallets or any other ICO direction, need, or resource.

In addition to many things and industries created by the blockchain, this created a huge need for compliance and identification, and verification. It is our suggestion that OMINEX is the leader in blockchain compliant solutions and user “wallet” for cryptocurrencies.

Blockchain details: Enhanced security

The security. validation and offered by blockchain is revolutionary and necessary for total global solutions in all sectors. By storing data across its network. Blockchain eliminates all of the risks that come with data being held individually and centrally.

Today’s internet has obvious security problems that have plagued all of us. We all rely on the “username/password” system to protect our identity and assets online.

Blockchain security methods use encryption technology. this is important to our security. Therefore Internet Security, along with almost all aspects of the Internet, has evolved with blockchain technology. The future is looking better and more secure.

These methods of encryption are known as public and private “keys”. A “public key” (a long, randomly-generated string of numbers) is a users’ address on the blockchain. Values (such as Bitcoins, or any Cryptocurrency or Designed Variable) are sent across the network and are then recorded as belonging to that address.

Think about how important that is. The “private key” is like an unbreakable password that gives its owner access to their Bitcoin, another cryptocurrency, or other digital assets.

When you store your data on the blockchain, it is incorruptible. This is true, although protecting your digital assets will also require the safeguarding of your private key.

Methods for safeguarding include:

• Print it out, creating what’s referred to as a paper wallet, and keep it in a safe place.
• Cold Storage Solutions. Such as a Trezor allows you to keep your “Public Key” and its contents as you access them from the blockchain in a safe location. This with built-in and secure recovery points. This is amazing! Click on the image to order one today.

Blockchain details: A second-level network

With blockchain technology, the internet (web) benefits have a new layer of functionality.

Therefore, users can transact directly with one another — Did you know that Bitcoin transactions in 2016 averaged over $200,000 US per day.

With the added security brought by the blockchain. This was able to create new internet business that is on track to completely disrupt the traditional institutions of finance.

However, if you want to really see how much it has grown (making the 2016 numbers look pathetic) go here for the latest in Market Cap. This shows you the hundreds of Billions of Bitcoin being traded.

Feel like you are missing out?  Do not.  There are so many ways that we can get you involved.

Want to be a part of the future? Become a Miner of Cryptocurrency on the blockchain in the easiest manner possible. Seriously, you do not need to fully understand it or put your capital at risk.

VISIT HERE for the details on how you can safely and securely use your Computer to mine. When you are not using them and they would be otherwise idle. To benefit and earn BTC (though you will be part of mining the most productive forms of Cryptocurrency).

SEE THE DETAILS and get STARTED HERE.  This is literally creating the possibilities of millionaires amongst even the simplest and non-understanding of us out there.  And it is real. With that said, this works without you fully understand it.

This can be a lot to take in.  So we invite you to bookmark and come back for more information, or to review our updated information at any time.

This incredible information provided will only increase your appreciation for this education on blockchain, there is nothing but growth and adventure for us all to witness.

All of our colleagues are excited about the thousands of associates informed by our Blog on blockchain details.

Be sure to subscribe to the right so you can be kept up to date with the new blockchain program, services with fun and prosperity to be had by us all.

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