We Have The Gold & Blockchain Technology
We Have The Gold
Blockchain is the most secure online environment in the world.
Blockchain is a revolutionary and an ingenious invention having been developed by a person known as Satoshi Nakamoto. It is a relatively new concept and is making the way for a rapidly growing industry.
Think of a ledger database of blocks that has been distributed. These unchangable, digital records are called blocks.
A block records transactions, and once completed goes into the blockchain as permanent database. Each successive block is time and action stamped.
Each successive block cannot be changed or altered and is linked to a previous block.
This chain is self-validating. Once an entry is added into a blockchain database, it cannot be changed.
Digital information can be distributed but not copied with blockchain. The blockchain technology has created the backbone of a new type of internet and while it was originally developed for Bitcoin other uses for this technology are now being found.
Blockchain eliminates the risks that come with data being held centrally. It is not vunderable to hackers as its security methods use encryption technology.
1st Generation Blockchain
Bitcoin is 1st generation blockchain. Bitcoin is an asset-less electronic token that is a decentralised virtual currency.
* Bitcoins are created and propagated as a reward to users who use their computing power to validate the successive blocks in a chain.
* Bitcoin value is determined by an implied bid ask of rewardees and can be used to purchase goods and service.
2nd Generation Blockchain
The 2nd generation of the blockchain permits new applications to interact with blockchain. These new apps enable a true value exchange:
* Smart contracts that create invoices that pay themselves
* Share certificates that automatically send declared dividends
* Royalty payments for content use
Implementation requires access to approved external data that therefore need to interact with the blockchain itself.
3rd Generation Blockchain
3rd generation blockchain is a secure application platform.
* Applications exist external to the blockchain and are safely adaptable.
* The integrity of the blockchain is protected.
* Extreme measures of security and fault tolerance provide security.
* Financial interactions or any value exchange of any complexity can be enabled.
Crypto-Gold Coin is built on 3rd generation blockchain.
We Have The Gold