WHAT IS THE BLOCKCHAIN?
The blockchain can be understood a large and exceptional ledger, shared by all users simultaneously, in which all transactions are registered, verified and validated.
All registrations done in the blockchain cannot be altered, they are unique, universal and public to all users. All transactions ever done in it are registered, just as well as it´s possible to check every user´s assets updated positions, thus creating a data bank with the whole history of every asset and of every transaction.
Some claim the blockchain to be Internet´s cashbook. Until this technology emerged, Internet records were concentrated in centralized protocols and were trusted on this network´s registrars. With the advent of blockchain, records are distributed among ‘n’ validators, several collaborators that build their safety and immutability inside the network. Therefore, it tends to be a much safer ecosystem than a singular and centred server, given that information is decentralized and distributed throughout the net, creating an environment ruled by an immutable protocol.
The blockchain is a chain made of blocks, in which strict protocols are executed through a decentralized network, where each newly generated block, from some recent information, should be accepted by all other existing blocks, and contain all the information held by the previous blocks, so as to guarantee immutability and prevent any data duplication. Each block carries within it every past occurrence, besides the new information yet to be added, which should be in compliance with the previous information contained in all blocks to guarantee its authenticity.
Grab a 10R$ bill and mark it with your fingerprint, then spend it. It´s highly unlikely you´ll ever know where it will move around, even with your fingerprint on it. Imagine you could register each transaction, and each time that bill is passed on, it´ll be scanned using your fingerprint and registered, and it will not be possible to skip even one, since it´s a requirement for its usage. You will be able to know exactly where that bill is and how many people it´s been used by, even after 10 years of use. This is what blockchain offers, a public registry, unique, assuring authenticity and exclusivity of the information within it.
Blockchain gives power to its users, so they can be in control of all their information and transactions, using total, consistent, dated, precise, widely available and high-quality data in a durable, trustworthy and longevous way.