What is Blockchain? | Marvin Germo
MMGM-Logo

Do you want to Make Money and Grow Money?

YES, I want it!

What is Blockchain?

By: Marvin Germo | March 20, 2021

Now that we’ve talked about cryptocurrencies and NFTs, it’s worth sharing how the market actually came up with these investments. Who would imagine that there will be digital monies? The crypto market is so hot right now that it is enticing more new investors to buy Bitcoins, ETH, and ADA. As an investor, you ought to know what’s behind your investment. Things such as how they are made, who is behind them, and so on. By knowing all of these things, you can better assess if your investment is worth it and what are their weaknesses.

What I’m sharing with you in this blog is blockchain or the technology that keeps the records of Bitcoin. Let’s get started!

What is Blockchain?

A blockchain is actually a kind of database that stores the information collected electronically. It’s a system that is designed to store large information and when someone tries to filter, access, or manipulate such information, it can be easily and quickly done. Some people compare a database to some sort of storage like a spreadsheet. The difference lies in the capability of such a system to store information. A database or ta blockchain can store millions of information without crashing while a spreadsheet is limited in nature and more often than not, it can only store a small amount of collected information.

Catch me in my live training events! (quick plug)

The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.

Stock Smarts Zoom Technical Analysis
Stock Smarts: Live Traning Fundamental Analysis

How does Blockchain work?

Blockchain is behind every Bitcoin transaction that you make. When a new Bitcoin transaction is entered, the activity is transferred to a network of peer-to-peer computers that are all over the world. The transaction is processed through the network by solving equations that will confirm the validity of the transaction. When confirmed, the transaction is then clustered into blocks. Those blocks are connected together to form a history of transaction which is permanent in nature. After that, the transaction is complete. As you can see, blockchain is not that complicated if you know how it works. This is what validates your Bitcoin transactions.

Decentralized Blockchain Network

Bitcoin uses a decentralized blockchain network. This means that the network used by Bitcoin is not all under one roof. Their locations are scattered around the world and each is uniquely managed by a single individual or group of individuals. Bitcoin is also transparent by allowing an individual to view all the transactions using a personal node or a blockchain explorer. Each node has a copy of the transactions you make. So, whenever you want to trace the history of Bitcoin transactions you have, you can freely do so.

Is Blockchain safe?

Bitcoin’s blockchain is safe and secured. New blocks are stored chronologically, which is usually added to the end of the blockchain. You will also see or hear the word “height.” This is how you can tell how long is the blockchain already. To date, Bitcoin’s block has hit 656, 197 blocks already. When the block is added to the end of the blockchain, it’s hard to go back or change what has been recorded already. That’s how secure blockchain is.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

To join a stock market mailing list – click this.