Thread by @OasesNet, Good Twitter, a big shout out to the Oases Community, tonight we'd [...]

Good Twitter, a big shout out to the Oases Community, tonight we'd be looking about the blockchain...yeah its a familiar word for some us, some are immersed in it and some of it’s still murky somewhat . #Africa #WestAfrica #blockchain #bitcoin

#ethereum #finance #binance

#BBNaija

Some curious, for others it's confusing...a good of numbers just look on....today we'd be unearthing the concept of the blockchain as simple as possible...let's fasten outlr seatbelts, relax and drink water!
#bitcoin

#blockchain #Africa #bbnaija #ethereum #cryptocurrency #money

Blockchain is simply a fundamentally new type of database technology which is meant to optimise the inadequacies of the traditional system. A blockchain is a growing list of records called blocks linked by cryptography #WestAfrica #bitcoin

#ethereum #bbnaija #money #Binance

Blockchain is resistant to modifications of data stored, it is an open distributed ledger that can record transaction history between two parties in a verifiable and permanent way. A blockchain is simply a network a Cryptocurrency is hosted on #bitcoin

#blockchain #Binance

For the purpose of clarity, we'd make this thread as basic as possible in order not to load so much info

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What does the blockchain hope to achieve! Let’s look at key improvements offered by the blockchain. #bitcoin

#blockchain #Africa #bbnaija #ethereum #cryptocurrency #money

The first is security of transactions, this is achieved using protection protocols called hashing and assymetric encryption to confirm transactions whereby unique parties signatures and overall information of transactions are compaired #bitcoin

#blockchain #Africa #bbnaija

Next up is transparency,, since it is an updated and distributed ledger, everyone actually has acess to history of all transactions ever made, however this openness is sort of balanced by anonymity such that all can see transactions but unless disclosed, but identity is secret!

Looking at efficiency, it is a very ambiguous one yet plainly speaking, blockchain offers a hots of perks in efficiency especially by eliminating the need for manual data reconciliation process #bitcoin

#blockchain #Africa #bbnaija #ethereum #cryptocurrency #money

Aq lot of things to say about the blockchain, there are quite a number of blockchain models available as of now, that of Bitcoin is called the proof of work, other networks have thier own models, we have the proof of Stake, the BFT by Binance and a host of others.

However, the purpose of this thread isn't to describe the entire nuances of the blockchain, that we'd unearth with time, the blockchain is a revolution, one that would reshape the entire financial system #bitcoin

#blockchain #Africa #bbnaija #ethereum #cryptocurrency #money

Feel free to drop your comments and questions, we would do our very best to answer your questions and provide quality links for further clarifications. #bitcoin

#blockchain #Africa #bbnaija #ethereum #cryptocurrency #money #finance #cryptocurrency #yearnfinance #Binance

We've come to the end our thread fam! One more thing....Crypto isn't for some....it's for All, Blockchain.....is taking over #bitcoin

#blockchain #Africa #bbnaija #ethereum #cryptocurrency #money #finance #cryptocurrency #yearnfinance #Binance

#LayconNeedsYou #africangiants

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