Wednesday, December 23, 2015

Netiquette IQ Technical Term Of The Day - Blockchain



Blockchain - from whatis.techtarget.com



Blockchain is a distributed database based on the Bitcoin model that stores a permanent and tamper-proof ledger of transaction data.
The blockchain consists of two types of records, individual transactions and blocks, which are collections of data pertaining to the transactions within a set time period. In a cryptocurrency system, transactions are created whenever funds are transferred from one user to another, and users known as miners create and validate blocks through specialized software designed for that purpose.
Miners create a hash of the information in each block and store the hash with the block at what is, at that moment, the end of the blockchain. Other data included in the hash is the hash of the previous block’s data. That inclusion makes tampering with blockchain data practically impossible. Altering any transaction in a block would change the block’s hash and also make the following hashes associated with the following blocks incorrect. Anyone running a hashing function on a block to check its validity would discover immediately that the hash did not match the stored value.
Although it has most commonly been associated with cryptocurrencies, and Bitcoin in particular, the blockchain model could be adopted for other financial systems. According to proponents, its use could make transactions more secure and make fraud nearly impossible.


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https://www.youtube.com/watch?v=HTgYHHKs0Zw
scoop_post=bcaa0440-2548-11e5-c1bd-90b11c3d2b20&__scoop_topic=2455618



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In addition to this blog, Netiquette IQ has a website with great assets which are being added to on a regular basis. I have authored the premiere book on Netiquette, “Netiquette IQ - A Comprehensive Guide to Improve, Enhance and Add Power to Your Email". My new book, “You’re Hired! Super Charge Your Email Skills in 60 Minutes. . . And Get That Job!” has just been published and will be followed by a trilogy of books on Netiquette for young people. You can view my profile, reviews of the book and content excerpts at:

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