Steemit in Nigeria 2 - Abuja [All About Block chain]

So glad to be here meeting friends I haven't seen in a long while, especially @illuminatus

last time we saw was April, it's so nice to see you bro.. Yeah @kweenzykruzy you're not looking as big as i thought I'm sorry I said it that way.

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Alright to the first question attended to by @expency

• What is block chain and how did it come into existence?

Answer
In 2001 two people came up with a pair to pair transaction method, to avoid the bank majorly.. Block chain means a distributed ledger that makes sure a transaction cannot be made twice, the idea is to keep the transactions saved for centuries which led to having a crypto currency to be used for the transactions.
Before a transaction is complete confirmations take place, confirmation comes in series of calculations carried out by a miner.
Majorly, The block chain brought up the idea of immunity.

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• How does the block chain work and what makes it unique?

Answer
By @fisteganos.

Block chain is basically a ledger, it provides security thanks to decentralization which means the server is not based in a location leaving it anonymous with thousands of copies in each location.

Secondly, Irritability;
There are different blocks of transaction in every ten minutes with links to each other so if one was to tamper with a block, you'll have to tamper with every other block on the block chain before the information entered is seen as valid. This feature makes the block chain very secure and most trusted for implementation of secured networks.

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• What makes it impossible to hack?

Answer
Most times it's done through social engineering or fishing sites. Block chain technology puts the power of being in charge of your wallet security by how well you keep your passwords.

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• What is the work of miners if the block chain is a peer to peer transaction platform.

Answer
Miners have no power to touch anything that has to do with your transactions, they only solve mathematical problems to keep the block chain running.

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• Should the block chain exist without crypto currency?

Yes. You can have a block chain technology without tokens or coins attached to it. You don't need a token to do a lot of block chain related activities.

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• Block chain crash a possibility or an impossibility
  Answer
  @fisteganos
  Will not crash as long as nodes keed running. It is theoretically impossible to shut down the blockchain.

• What makes a contract smart
  Answer
  @xpency
  A contract is smart when it doesn't consume time and energy.

• What is mining
  Answer
  This is the process if solving mathematical equations to get rewards.

• What does it mean to remove blocks on a block chain and what are the advantages and disadvantages of removing blocks.

Answer
To avoid security threats and differences in ideologies. There's a lot more reasons to delete a block which has not been stated here.

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I'm looking forward to a great suya night with @surfyogi