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Blockchain is one of those concepts that everyone talks about, but few understand the essence of what is happening. We will try to fill this gap and explain everything in simple words. So, we are talking about nothing more about encryption technology. It is based on distributed data storage, which makes hacking and stealing almost impossible.
This digital technology has been successfully tested on operations with cryptocurrencies. It did not just prove its viability, but revealed a whole stratum of potential applications. So what is the principle of the blockchain? How can you earn on this? Well, the important question is the exchange of Bitcoin and other cryptocurrencies for rubles. Let’s figure it out.
Digital puzzles
Yes, it is puzzles – the most successful analogy. A blockchain is a chain of individual blocks. Each of the blocks is an array of data in the network that fell into it after the previous block was created (the approximate interval is 10 minutes). Each newly created block is attached to the previous one using special algorithms. To obtain the necessary cryptographic imprint, it is necessary to solve a very complex mathematical problem.
In the context of cryptocurrency mining, the calculation of such blocks is called mining. These calculations require large computing power. That is why for such tasks are created the whole “farm” of the most powerful computers.
Blockchain as a way to make money
One of the most common options is the use of technology to generate cryptocurrency (mining).
This technology allows you to buy (sell) real-time cryptocurrency. So you can earn on the difference of courses, choosing a suitable cryptocurrency exchanger with the lowest commission online.
A very promising direction is the use of blockchain in projects that operate with large amounts of personal data or require digital identification.
How to turn cryptocurrency into “live” money
For this, there are cryptocurrency exchange services that turn virtual problem solving into real money. The most convenient way is to exchange online cryptocurrency in Russian. Such a service will help you easily sell or buy cryptocurrency for rubles online.
Choose a service where there is a convenient online cryptocurrency exchange calculator. So you can calculate the most profitable exchange option.
What’s new?
If 10 years ago, the blockchain was associated only with cryptocurrencies, today this technology is recognized as very promising for the development of various industries. So, in the near future, a transfer to the blockchain of the global interbank SWIFT system is planned, as announced by its general director Gottfried Leibbrandt in early 2019.
The same technology has found its application in the production and sale of products (IBM Food Trust), in image recognition (Bextmachine), and is even considered promising for organizing digital voting in elections (BX3 Capital).