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7 basic things you need to know about Blockchain: A beginners’ guide

So you have heard the word “Blockchain” and maybe “Cryptocurrency”and “Satoshi Nakomoto” wondering what or who they are? I understand they can be like what everyone is talking about without actually talking about them. Read on with me and I would break down this chain of Blocks into bits for you to understand. Truth is, Blockchain has passed the level of “WHAT IS” to its real life applications, but if you are new in the industry, don’t worry you are not still late.  Let’s begin.


The Building Blocks.


The evolution of human society cannot be complete without keeping records, From the 17,000 years old cave paintings of Lascaux to the Dead Sea scrolls. These and many more were evidences of a natural human desire to keep records, which would outlive them. A historical evidence to say: “hey look, I was here.”


In fact, record keeping is a way of human behavior. We keep records of birth and death, and so many memories precious to us. The concept of history is also based on record keeping. In the past, cultures and traditions were passed down orally to continue a particular civilization, until the birth of writing. The beginning of writing also gave way to the birth of money, for the goldsmith who kept valuable items, needed to keep records of the transactions.


The ideas that embody record keeping is enormous and cannot all be captured in this article. Practically, we keep records in our diaries which is usually a paper or book or ledger or a file. Until we evolved into online record keeping and sharing of data. The basic element for a record to be possible is a ledger, a diary, a book, a canvas. Call it anything. It is the surface on which the idea, time, date, transactions etcetera is scribbled upon.

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