Exploring is very important because you get a chance to learn new things today was a day we as team Uganda we were preparing for the block chain conference that will take place tomorrow at Kampala Serena Hotel with a number of guests coming in from different countries and the President of Uganda being on of the major guests going to attend the two day conference with over 750 guests and 23 countries going to attend.
To some its seen as usual things that take place in Uganda but people can not see the opportunity that Uganda has got opportunity to host the Africa Block Chain Conference. Some people have no idea about block chain but i would love to briefly tell you about block chain.
Block chain is like a ledger that can be programmed for digital transactions majorly, and also record anything of value.
One can carryout transactions without involving the third party and without being charged for the transactions made.
Block chain enables people to transact businesses and invest in it.
"A blockchain,[1][2][3] originally block chain,[4][5] is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[1][6] Each block typically contains a cryptographic hash of the previous block,[6] a timestamp and transaction data.[7] By design, a blockchain is inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way".[8] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Blockchains are secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain.[9] This makes blockchains potentially suitable for the recording of events, medical records,[10][11] and other records management activities, such as identity management,[12][13][14] transaction processing, documenting provenance, food traceability[15] or voting.[16]
Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.[1] The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.[1]["
A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network.[1][30] This allows the participants to verify and audit transactions inexpensively.[31] A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server. They are authenticated by mass collaboration powered by collective self-interests.[32] The result is a robust workflow where participants' uncertainty regarding data security is marginal. The use of a blockchain removes the characteristic of infinite reproducibility from a digital asset. "
www.https://en.m.wikipedia.org/wiki/Blockchain
At the venue picking my ticket for the conference
It is such a great honour to represent others and i know am going to learn alot from it so i will keep sharing what i learn but majorly block chain makes teansactions easy since you monitor your investment on your fone and you have no limitations as to how much to invest or use in a transaction
Stay tunned for more updates about the conference
