Beginner's Guide To Crypto Part I: What Are Blockchains?

Blockchain technology.

Blockchain isn’t that complicated. In its simplest form, it’s a cryptographically modified form of decentralized data. There are two important aspects to that statement:

1. The blockchain is a “block” of numbers linked and secured using cryptography. The same way the Allies and Axis powers used algorithms to safely disseminate information to thousands of soldiers, blockchains are locked up information that is only accessible with the correct key (there must be knowledge of the chain of algorithms to decipher the current one).

2. Decentralization is the most important aspect. Just because you have data stored through cryptography, doesn’t mean it’s secure. Famously, Turing deciphered the Nazis codes, allowing all of their “secret info” to be instantly accessible to the allies. The best way to combat this (especially in a digital context) is to decentralize the data and the keys, while simultaneously keeping them linked. This way, you would require all the keys to all the blocks to corrupt the network. The more chained blocks (blockchains), the more difficult it is to hack, perform DDOS attacks, or diversely compromise the network. The longer the blockchains, the safer the network. Any damaging nodes can be quickly recognized and removed, while the rest of the network retains an ability to run unimpeded.

Why does it matter?

This technology changes everything. No, I’m not promising you neon green Lambos, millions of dollars, or galactic exploration. Simply an objective realization that having a secure, decentralized network will be desired, and eventually necessary, for any business, government entity, or even Wi-Fi hot spot.

Want to check your email? Not if the network is compromised.

This technology will make all transactions and transfers of data,

1. Thousands or millions of times faster than present.

2. Transmittable through secure, decentralized networks, without concerns of hacking, manipulation, or other antagonistic issues.