What is Blockchain?

What is Blockchain?

The blockchain mechanism makes no sense to many non-computer science professionals. Clarifying this is critical for fundamental technology development and integration with open innovation.

Of course, we will have a list of conditions for this construction (Bitcoin Blockchain Protocol), and a system where each contractor is connected by a network (Blockchain Network) that is aware of each other and at the same time, for each floor (Each Block in the Chain) that he has built on his own site, the moment he places this floor on the construction site, he receives the approval (Work Contract) of other contractors and earns the sales price of that floor as a reward(Bitcoin)(This prize is created out of nothing digitally, no one pays for this prize). In this construction system utopia, contractors and other system participants are aware of:?

·?Building this skyscraper is a competition among contractors.

?·?Those of us who want to live in a skyscraper constantly produce bricks and send them to contractors for construction.

?·?There is an incredible resource of bricks (Bitcoin transaction) from which we can build the skyscraper. There are so many bricks that contractors can choose what they want in a certain order among them. So much so that some bricks are made of gold and the contractors are almost competing with each other to use those bricks in the construction of the floor they have built.?

·?The rules of the race are simple, within the scope of the conditions, the contractors form the rooms with the bricks connected to each other and complete the floor. It doesn't matter which brick the contractors choose. They already know that each brick that comes to the system is unique and the bricks will be removed from the system as soon as they are used in the construction of their own floor. At the same time, it is certain that if the floor is finished, +1 floor will be added to the skyscraper. No other contractor will come and demolish that floor.?

·??Contractors are quite selfish. They get away with saying “I have much better construction equipment (Computer hardware) than other contractors and I completed the floor. That's why I deserve the award. If they wanted the reward, they had to be faster!” After that they immediately engage in the struggle of the next floor.?

·??Construction tools are used here not only for the construction of floors, but also for the race to verify that the bricks are of material and construction conforming to the conditions. This is the most important detail in the competition.?

·???You can be involved in this construction as a contractor from all over the world. There is no restriction.?

·???Objectivity and basic sequencing rules are provided by mathematical algorithms in the system. Individual or institution comments are disabled at this point. In this way, the trust of the public and system participants is once again gained.?

·??The floor race of the contractors also depends on mathematical rules and verification mechanisms. Compliance with the conditions of each floor is also verified by other system participants in accordance with these rules.?

·??As the number of floors increases, the attempt to demolish the floors below by another malicious contractor becomes more difficult. This increases the reliability of bricks, rooms and floors. In addition, the correctness of the bricks and floors are also open to all observers, whether participating or not.?

·??Thanks to this construction system, win-win projects are created. The people who will be sitting in the skyscraper and the contractors will be happy. As long as the number of well-intentioned contractors and flat owners in the system is high, the collapse of the system becomes even more impossible.?

·???As the number of floors in the system and the number of well-equipped contractors increase, it becomes more difficult to build floors in the system. As a matter of fact, the contractor who has the best and quality materials starts to earn more.?

·???Of course, several contractors can join forces (Pool Concept) and put pressure on the market. (Let this be the subject of another article for now).