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There is an ever-changing world of finances and investments. Because of this & to help, we have gathered this set of blockchain education and information that everyone wants to know about.  Even more, you will find this information useful and it will help you become an informed/educated investor. Also, you will be ready to start with a new understanding as the details are explained below.

• Blockchain is a huge, global, decentralized spreadsheet. (meaning no one system is the “Central” authority)
• It keeps track of who sent how many coins/tokens/information sets to whom.
• Furthermore, in the case of Coins/Cryptocurrency; it tracks what the balance of every account is.
• Also, thousands of people (miners) across the globe maintain and store this information.
• These people have “special” (high powered and uniquely configured) computers.
• The blocks contained within the blockchain are made up of all the individual transactions sent and received through the blockchain.  For instance all individual transactions sent from places like OMINEX, MyEtherWallet, MetaMask, Exodus, Mist, Geth, Parity, and everywhere else.
• When you access your Cryptocurrency Balances on Ominex.com, or any other Blockchain Wallet or view your transactions on various and specific sources like etherscan.io, blockchain.info, etc., you are seeing data on the blockchain, not in any one personal system.

Blockchain is an incorruptible digital ledger of economic transactions. Blockchain is programmed to record financial transactions and transaction on everything of value.

Let’s simplify. First, Blockchain details are listed and explained below:

More blockchain education and Benefits to all of us:

Blockchain is a (decentralized) system to bring everyone to the highest degree of accountability. Resulting in:

• No more missed or corrupted transactions.
• An end to human or machine errors.  No more corrupt or broken databases.
• An end to transactions or exchanges (made in error) without the consent of the parties involved.
• The blockchain guarantees the validity of a transaction by recording it not only on a main register but on a connected distributed network of registers.  All of which connect through a secure validation protocol.

Consider Blockchain Technology as Internet 3.0.  (Evolution of the Internet – better – safer – truth).

The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym,  Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking, and we are here to help explain; is: What is Blockchain?

Consequently, details of what blockchain is, we make more clear here.  First, The digital information on Blockchain can be distributed but not copied. This creates an endless and constantly updated and accessible database.  Hence, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, the tech community is now finding new and uses for the BlockChain technology.

Due to Bitcoin and the creation of blockchain; Bitcoin has been called “digital gold.”  Actually a good name for it; as it has proven to be just that. Also, the current total value of the currency is about $350 billion US. As a result, it doesn’t stop there, as blockchains can make other types of digital value.

These Blockchain Education details do not need to be fully understood to be used by us:

Like the internet (before blockchain) or your smartphone, computers, or your car; you do not need to know how the blockchain works for you to use it. However, having a basic knowledge of this new technology helps you to understand why it is considered revolutionary.

A distributed database – let us explain the blockchain details even more:

A distributed database works by saving all information in different locations. This is safe because Blockchain has no one location that can be hacked or stolen from. This information is saved across millions and millions of different computers around the world.

If you can grasp this concept, you have a basic description and understanding of blockchain.  Some benefits to this process and function include:

• Information held on a blockchain exists as a shared, and continually validated and reconciled database.
• The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable.
• No centralized version of this information exists for a hacker to corrupt.
• Anyone on the internet has access to this information.
• Millions of computers share this information at the same time.
• Ultimate Security and Transparency.  Truth.

Blockchain education: Durability and robustness

Blockchain technology is similar to the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network; the blockchain:

1. Can’t become controlled by any single entity.
2. It has no single point of failure.
3. never corrupted or embezzled.

Blockchain education from the history of its Invention/Creation:

Bitcoin was first invented in 2008. Since that time, the Bitcoin blockchain has operated without significant disruption. (the problems associated with Bitcoin have been due to hacking or mismanagement. In other words, these problems come from bad intention and human error, not flaws in the underlying concepts.)

The internet itself has proven to be durable for well over 40 years.  This is a track record that bodes well for blockchain technology.

Blockchain education on being Transparent and incorruptible

The blockchain network lives in a state of constant consensus.  Therefore, it is one constant consensus that automatically checks in with itself every ten minutes.  This is a kind of self-auditing ecosystem of a digital value. The network reconciles every transaction that happens within ten-minute intervals. Each group of these transactions is referred to as a “block”. As a result, here are two important properties created by blockchain:

1. By definition it is public. Transparency data is embedded within the network as a whole.
2. Second, It cannot be corrupted. To alter any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network. Something that is virtually impossible and becoming a larger and larger barrier constantly.*

*In theory, this could be possible. In practice, it’s unlikely to happen. Hence, taking control of the system to capture Bitcoins, for instance, would also have the effect of destroying their value.

Blockchain Education details: A network of nodes

A network of computing “nodes” make up the blockchain.

Together they create a powerful second-level network, a wholly different vision for how the internet can function.

Nodes and their role in the first blockchain: bitcoin.

The blockchain network is decentralized. As a result, Every node (a point at which lines or pathways intersect or branch; a central or connecting point) is an “administrator” of the blockchain. Also every node joins the network voluntarily. The incentive for each “administrator” is the chance to get Bitcoins. Each person gets bitcoin by solving with proof and verification the end of a block in the blockchain.

Every node is an “administrator” of the blockchain and joins the network voluntarily (in this sense, the network is decentralized). However, each one has an incentive for participating in the network: the chance of winning Bitcoins (competing to solve and be verified as the solution), proving proof of work, and then creating the “minted” blockchain of information and being. The reward is a specific amount of bitcoins for the completed block in the blockchain.

Just as the internet was once just a way to share “emails” and information, and grew into massive commerce, jobs, and revolutionized industry.  Hence, as a result of blockchain it is already happening again; evolving to the next level of technology based on decentralized solutions and “truth”.

There are an every growing Bitcoin-like cryptocurrencies (exchangeable value tokens) already available. In addition, there is a full range of other potential adaptations of the original blockchain concept that are currently active, or in development. Because there are literally no barriers; the uses and deployed solutions will be a part of our everyday lives (if not already) in the immediate and every advancing future.

Blockchain Education details: The idea of decentralization

Blockchain is a decentralized technology. as it was originally created.

Anything that happens within the blockchain is a function of the network as a whole.

• Thus by creating a new way to verify transactions; aspects of traditional commerce could become unnecessary.
• For this reason Cryptocurrency and ICO/Token trades become almost simultaneous on the blockchain. Realizing a Global economy of trade operating 24/7/365 with no market opening or closing.  Global.
• Above all, vital record keeping, like a land registry, is now fully public.
• A global network of computers uses blockchain technology to jointly manage the database that records all the transactions. Therefore Making information up-to-date and available at all times.

“Decentralization” means the network operates on a user-to-user (or peer-to-peer) basis. Therefore, this creates “truth” and the possibilities from all forms of mass collaboration this makes possible are just beginning to be investigated.

Blockchain Education details: Who will use the blockchain?

You do not need to know about the blockchain for it to be useful in your life. Like computers, they have been enhancing everything around us with or without our knowledge of them and how they function.

Jobs and Careers are abundant in the blockchain. At the moment there is a high demand for blockchain developers.

Consequently, the blockchain cuts out the middleman for all types of transactions.  Hence the reason new methods for generating and being part of creating new monetary gains are higher than ever.

Access to the financial sector and use of blockchain cryptocurrencies became accessible to the general public with the invention of “wallet” applications. These were first used by people to buy things with Bitcoin, and to be able to store and access it along with other cryptocurrencies. We recommend OMINEX for any blockchain wallet or ICO direction, need, or resource.

In addition to many things and industries created by the blockchain, this created a huge need for compliance and identification and verification.  OMINEX is the leader in blockchain compliant solutions and user “wallet” for cryptocurrencies.

Blockchain details: Enhanced security

The security, validation and “Truth” offered by blockchain is revolutionary and necessary for total global solutions in all sectors. By storing the data across its network; the data is safe.

Especially relevant to today’s needs; The blockchain lacks centralized points of vulnerability that computer hackers can exploit.

2 Methods of Encryption

There are two methods of encryption. The 1st encryption is public encryption (“public key”). The 2nd is private encryption (“private keys”). The users’ address on the blockchain is the “public key”. (long randomly-generated string of numbers). Such as your internet address. The “private key” is like a password that gives its owner access to their Bitcoin, other cryptocurrencies, or other digital assets. When you store your data on the blockchain, it is incorruptible. This is true, although protecting your digital assets will also require safeguarding of your private key.

Today’s internet has security problems that have plagued all of us. For this reason we all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology.  Therefore Internet Security, along with almost all aspects of the Internet, have evolved with blockchain.

Blockchain details: A second-level network

With blockchain technology, the internet (web) benefits with a new layer of functionality.

Hence, users can transact directly with one another — Bitcoin transactions in 2016 averaged over $200,000 US per day. With the added security brought by the blockchain new internet business are on track to completely disrupt the traditional institutions of finance. Click here for the latest in Market Cap. You will see how Bitcoin has grown by Hundreds of Billions in Bitcoin that are being traded now.

As published in 2017; Goldman Sachs believes that blockchain technology holds great potential. Especially to optimize clearing and settlements of financial transactions.  They claim it could represent global savings of up to $6 Billion per year. It seems like, even Goldman Sachs has underestimated this incredible new world of blockchain.

Feel like you are missing out? You can get involved.

Want to be a part of the future? Become a Miner of Cryptocurrency on the blockchain in the easiest manner possible. Consequently, you do not need to fully understand it or put capital at risk. VISIT HERE for the details on how you can safely and securely use your Computer/s to get free BTC. You can start now. This is literally creating the possibilities of millionaires amongst even the simplest and non-understanding of us out there.  And it is real. In conclusion, this works without you fully understanding it. With this program the computer does all the work.

This can be a lot to take in.  So we invite you to bookmark and come back for more information and review.

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