BLOCKCHAIN

BLOCKCHAIN

1. Secure

   • there is a private key to create(your key) and a public key (can be seen by anyone). private key can be thought of the password and public key the system to check if the password is correct. You send money to public signature, this is proofed through transaction message and your private key to see if you are the valid recipient. other noses can use the signature in another function to to verify that it corresponds with your public key. so you can check if you are the valid private key without seeing it.
   • there is a private key to create(your key) and a public key (can be seen by anyone made up in a transaction message). private key can be thought of the password and public key the system to check if the password is correct. You send money (must proof you have money on your accont) to public signature, this is proofed through transaction message and your private key to see if you are the valid sender. other noses can use the signature in another function to to verify that it corresponds with your public key. so you can check if the sender is the holder of the private key without seeing it. BTW: the key changes every transaction
     • How do we know if someone else has the money to send? ownership of funds is proofed thru links to previous tranactions
     • you can create unlimited number of public signatures.it is possible to link them together tho. digital private key was used to confirm the payment.

2. Anonymous

3. Very fast

   • lower costs
     • bureaucy
     • transaction costs

4. Very structured data

   • Blockchain data is complete, consistent, timely, accurate, and widely available
     • Blockchain data is complete, consistent, timely, accurate, and widely available
   • Everything stored on a singe ledgers

5. Firmen

   • Provenance.org - tracking von Gueter (post und luxurary brands als target), kann echtheit proofen von produkten, livetime tracking