The Outsource Fitch team has been involved in Bitcoin and Blockchain since 2014. We have great appreciation and understanding of this new technology. We can assist your new project, start up or ICO to succeed by sourcing and positioned skilled Blockchain developers in the Philippines to work on your project.
What is Blockchain?
Blockchain is a technology for distributed, decentralised verification of transaction and update of a digital ledger. The digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
Computer hardware which carries the Blockchain technology for a specific ‘product’ such as Bitcoin, Litecoin can start verifying the transactions and supporting the network. As more computers on the network, the more secure and decentralised the network becomes. Miners are the people which have computers connected to the network. The miner reward is normally 2: mine a new coin for the transaction and a transaction fee paid by the sender or recipient.
The first application of the Blockchain technology was Bitcoin. The blockchain is an undeniably ingenious invention – the creating of an unidentified person known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something much bigger, and the main question every single person is now asking is: What is Blockchain? and how can it actually improve what we do.
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of Internet, allowing safe and secure transaction to occur without the need of a centralised organisation controlling (or manipulating) the data.
Bitcoin has been called “digital gold,” and for a good reason. And blockchains can make other types of digital value. Like the internet (or your car), you don’t need to know how the blockchain works to use it. But it is making advances into several parts of our lives such as finance, health, logistics and more. When you think of any transaction requirement that could greatly benefit by being independent from any central party, decentralised, super secure or requires some sort of validation there is a great chance a Blockchain solution is being created for it.
How does Blockchain works simply explained
TED Talks: The Blockchain