Blockchain In A Nutshell
Cryptocurrencies, NFT’s, metaverse, decentralized exchanges, smart contracts and more. All of these brand new concepts that we have come across recently have emerged to explain the changes that a technology has brought to our lives. Although not everyone understood what they were, they all became solutions to problems that are very closely related to our daily life. There is actually an invention behind this radical change: blockchain. This technology, which we can translate into Turkish as blockchain, has the potential to radically change the rules of the game.
Blockchain is essentially a data storage system. This system encrypts the recorded data with a unique method and turns it into blocks arranged in a chain. It stores it at multiple addresses for later use. More than one copy can be accessed by anyone at any time, and the encrypted information becomes almost impossible to change or delete.
In fact, blockchain, which appeared in 1991, was also heard by outside the software world, with an article by Satoshi Nakamoto published in 2008. Nakamoto, whose identity is unknown even today, shared the idea of digital money with everyone, based on the principles on which blockchain is built. In the past 14 years, 7% of all money in the world has already turned into crypto money. In all areas of life, information stacks that cannot be controlled by a center, transparent, unchangeable, accessible to everyone, emerge.
The changes it creates in the banking and finance ecosystem are the most visible side of blockchain technology for now. In addition to its functionality in the financial sector, blockchain actually has applicability in every area that the internet can touch. It creates faster and more efficient working ecosystems in logistics, supply chain, health, real estate, energy and many sectors that we cannot count.
Exciting changes are about to enter our lives with blockchain technologies, which can solve many problems that traditional systems cannot find a solution by its nature easily. With smart contracts based on blockchain, the scope of this new technology extends beyond the business world and allows even the simplest agreements to be moved to the digital world. It is now possible thanks to blockchain technology that everything of value can be digitized, its ownership can be definitively proven and its value can be transferred to the virtual world. Even the creation of self-managed, decentralized organizations becomes possible thanks to this technological infrastructure.
The Coinoxs Ecosystem makes the unique products offered by blockchain technology accessible to everyone. It is making Blockchain and Web 3.0 a hot topic and a technology that is quickly integrated into all business lines. It brings together blockchain enthusiasts and entrepreneurs to bring the last great development of world history to more people. Blockchain for all, all together.
