Blockchain

Blockchain technology has potential to change the way we live. The next web would come over blockchain technology, It can change our daily transactions as money or transfering data between machines, and also make them more secure, reliable and scalable.

What is the blockchain?

The blockchain is the public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as miners add new blocks to it (every 10 minutes) to record the most recent transactions. The blocks are added to the blockchain in a linear, chronological order. Each full node has a copy of the blockchain, which is downloaded automatically when the miner joins the Bitcoin network.

The blockchain is seen as the main technological innovation of Bitcoin because it stands as a “trustless” proof mechanism of all the transactions on the network. Users can trust the system of the public ledger stored worldwide on many different decentralized nodes maintained by “miner-accountants,” as opposed to having to establish and maintain trust with the transaction counterparty (another person) or a third-party intermediary (like a bank).

The blockchain as the architecture for a new system of decentralized trustless transactions is the key innovation. The blockchain allows the disintermediation and decentralization of all transactions of any type between all parties on a global basis.

What are Decentralized Applications?

Since the beginning of internet, all internet-based applications that have been developed have been based on client-server architecture, where there is a centralized server that forms the backend of the application and controls the complete application. These applications often end up with issues such as having a single point of failure, failure to prevent net censorship, lack of transparency, users not trusting their data, activity and identity privacy, and so on. This centralized architecture even made it impossible to build certain kinds of applications. For example, you cannot build a digital currency using this architecture. Due to these issues, a new kind of architecture emerged called Decentralized Applications (DApps).

A DApp is a kind of application whose backend runs on a decentralized peer-to-peer network, and its source code is open source. No single node in the network has complete control of the DApp. Remember that, when we say that an application is decentralized we mean technically it's decentralized but the governance can be distributed, decentralized, or centralized.

What are blockchain advanced use cases?

We know blockchain as crypto currency ledger but it can have more essential use cases.

• Currency, Token, Tokenizing
• Communitycoin
• Campuscoin
• Coin Drops as a Strategy for Public Adoption
• Document Registraion
• Crowd Funding
• Currency Multiplicity: Monetary and Nonmonetary Currencies
• Demurrage Currencies: Potentially Incitory and Redistributable