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ABOUT ME

I am HAKS a crypto enthusiast. Fascinated by the potential of BlockChain Technology, I myself am researching about this technology and would like to give to world in a simplified form. 

BlockChain has its PROs and CONs, but as an individual we need to know about it and use it for the benefit of mankind.

The group usually approached media brain washers are washing out the real purpose of the crypto and blockhain technology, so when it comes to learning some thing do not look at the media which is just a view hungry, mind controlling chatter box, instead go to source and the deepest of the roots at to why we need something.





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How is BITCOIN Sent and Received

BITCOIN SENT and RECEIVED  [HoW] (Newbie) What Happens when bitcoin is sent and how is it received?  How does a Bitcoin transaction occur?  What are the processes involved in a BTC transaction? In Simple Terms sending to receiving Bitcoin is composed of 3 parts   Signing: When the sender sends bitcoin the wallet creates a transaction message containing information of the sender and the amount to be sent. This message is encrypted in   the form of a digital signature which is different for different transaction. This message is now encoded in a file and ready for the next step. Broadcasting: The encoded file is now sent to other computers that hold a copy of the block chain, this is know as a node . Each node gets a copy of this file and verifies the file and passed on to other nodes that repeat this process. By this way the bicoin amount is broadcasted in the form of and encoded fi
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Blockchain Layman Terms

BLOCKCHAIN What is BlockChain? BlockChain in Plain English? BlockChain for theNewbie BLOCKCHAIN in simple terms is a decentralized,  shared  record book that notes down the details of an entity and makes multiple copies of the same record book consisting of the details of the entities.  The details of the entity are usually  the one who sends the entity, the scale or weight of the entity and the one who receives  the entity.  The record book is called a ledger . Decentralized means no single authority can manipulate the entity. Similar to a dictionary no one can change the meanings of the word ' book ', since all dictionary have a similar definition. Centralized Ledgers like the FRS , wikipedia, etc. have a autocratic authority, its controlled and can be manipulated at will by the central authority and any discrepancy  will pose a problem in the functioning of the whole system. This anomaly is evaded in the BlockChain Technology, hence makin
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BITCOIN Mining for the Newbie

BITCOIN MINING (Newbie) Bitcoin mining is a process used to secure and validate transaction from the wallet of one user to another. This validation occurs in a decentralized network. The receiver can only receive the bitcoin if the sender transaction is validated. Validation is in the form of mathematical computation which the mining equipment performs and receives some bitcoins fom performing the operation kind of like the service charge as in Money exchange companies. Since its decentralized it goes through many systems in the Blockchain network to verify the transaction, so if one system is hacked the other systems in the Blockchain will verify it, unlike the centralized banking system. Mining can be done by any computational device, but only the devices that have good computational speeds can validate a transaction faster. Mining speed depends on the Hash-rate or Hash-power which varies from system to system.  The Space where mining is done is cal
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