⚡⚡𝓦𝓱𝓪𝓽 𝓲𝓼 𝓱𝓪𝓵𝓿𝓲𝓷𝓰 𝓲𝓷 𝓑𝓲𝓽𝓬𝓸𝓲𝓷? ⚡⚡Think about the old savings passbook, the bank teller and machine that prints your transactions on the passbook. Now visualized this, the old savings passbook needs to print out the details of your transactions, it cannot be done without the bank teller, by bringing to the bank and allowing the bank teller to verified you and your passbook, the bank teller will place your passbook into the machine and get your transactions data successfully printed. What does the bank teller get in return? The bank teller receives a salary monthly. 🎯So, putting this into blockchain and cryptocurrency, we know that, by solving a block, a miner will be rewarded in cryptocurrency. Bitcoins are created through a process called mining, where miners solve a puzzle using specialize
⚡⚡𝘞𝘩𝘢𝘵 𝘪𝘴 𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯? ⚡⚡Imagine about the old savings passbook, I would need to bring it to the bank teller to update it, even with the auto-mated teller machine, I have to bring my passbook to the auto-mated teller machine to update it, I recalled there were times where the updating of my parents passbook have an error, and they have to visit the branch teller to check and ensure that the records are correct, it was a tedious process and it take a lot of time and resources. 𝘏𝘰𝘸 𝘸𝘰𝘶𝘭𝘥 𝘺𝘰𝘶 𝘭𝘪𝘬𝘦 𝘢 𝘴𝘰𝘧𝘵𝘸𝘢𝘳𝘦 𝘵𝘩𝘢𝘵 𝘴𝘰𝘭𝘷𝘦𝘴 𝘵𝘩𝘦 𝘢𝘣𝘰𝘷𝘦? 𝘈𝘯𝘥 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘬𝘯𝘰𝘸 𝘵𝘩𝘢𝘵 𝘢𝘭𝘭 𝘺𝘰𝘶𝘳 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘴 𝘢𝘯𝘥 𝘥𝘢𝘵𝘢 𝘢𝘳𝘦 𝘴𝘵𝘰𝘳𝘦𝘥 𝘴𝘢𝘧𝘦𝘵𝘺, 𝘢𝘯𝘥 𝘯𝘰 𝘰𝘯𝘦 𝘤𝘢𝘯 𝘢𝘮𝘦𝘯𝘥 𝘪𝘵? On October 18, 2019. The first blockchain application was started by Satoshi Nakamoto on January 3, 2009 with the creation of the first block of the chain. While we do n