What is the blockchain and how it works.
The blockchain is a multifunctional and multi-level information technology designed for reliable accounting of various assets. Potentially this technology covers all without an exception spheres of economic activities and has many applications. Among them: Finance, Economics of monetary payments, but also operations of the mother - structures (real property, real estate, etc.) and intangible (the right to vote, ideas, reputation, intention, health data, personal information, etc.) assets. The blockchain creates new opportunities for finding, organizing, evaluation and transfer of any discrete units. In fact, this new organizational paradigm for the coordination of any kind of human activity.
What is the blockchain? Blockchain technology nedelnogo storage record of all ever committed transactions. Blokey is iipocto of data blocks, the volume of which is constantly growing as you add miners of new blocks records the last transaction that occurs every 10 minutes. The blocks are recorded in the blockchain in a linear sequence-chronological order. Each full node is a computer connected to the network bitcoins using the client, performing the verification and transmission of the transaction - stored copy of the blockchain, which is automatically loaded when the miner joins the bitcoin network. In the registry stores the entire information about addresses and balances, starting with the Genesis block, the very first block of transactions to the most recently added block.
Blockchain technology is the main innovation of bitcoin because it is "low confidence" (trustless) the mechanism of verification of all transactions in the network. The principal novelty of the blockchain lies in its architecture to enable decentralized transactions without requiring trust. Instead of something to establish and maintain a trusting relationship with the partner in the transaction (the other person) or by a third party intermediary (e.g., Bank). users rely on a shared distributed database stored on many decentralized nodes and supported "the miners are the accountants." Blokey allows you to get rid of "trusted intermediaries" to fully decentralize transaction of arbitrary types between all members on a global scale.
Technically, blokey technology is another application layer running on top of an existing stack of Internet protocols. She brings to the Internet a whole new level of support to the economic transaction as a snapshot of cash payments in the universal crypto currency, and more complex and long-lived financial contracts.
In the system, similar to the blockchain, can be made of the transaction with any currency. financial contracts, tangible and intangible assets. Moreover, the blockchain can be used not only for transactions but also for fixation, tracking, monitoring, and transactions with any assets. In fact, we are dealing with a huge spreadsheet for the recording of all assets accounting system to perform operations with them on a global scale without restrictions on the form of assets, type of participants or geographical location.
Thus, the blockchain can become a means of registration, registration and exchange of any financial, tangible and intangible assets.
P.S
Sorry for my English, its bad I know, I'm just learning)