A Simple Introduction to Blockchain Technology (and this Blog)

Hello fellow cryptocurrency enthusiasts, investors, and beginners! This is the first post in our cryptocurrency related blog, and we are so, so excited to have you join us. Because this is our first post, we would like to explain to you what we have in store for you guys.

First, I would like to cover the technology behind cryptocurrency: blockchain technology. Blockchain technology can be seen as a type of network. Created by the mystery man, woman, or group Satoshi Nakamoto, blockchain involves P2P transactions that are validated by a network of nodes. A transaction includes cryptocurrency, contracts, and other types of information. When multiple transactions are verified, they form a block of data, which is added to the existing chain of blocks, hence the name blockchain. Then, the transaction is done.

Now this information may seem foreign to newcomers. I understand, I was once one of you guys. However, the fact that I was struggling to learn the technology did not stop the rise of blockchain technology. Since Bitcoin was first created in 2009, there was much speculation as to whether or not Bitcoin and blockchain would be the next big thing. Many people doubted and still doubt the success of blockchain, whereas some people praise it as something bigger than the Internet itself. Time will tell whether blockchain technology is going to change the world, but there certainly is a lot of hype around this relatively new concept.

The advent of Bitcoin has introduced numerous other cryptocurrency projects. Some projects create coins that can be used as currency, while others form coins that are used on platforms on which users can make their own decentralized apps. Others apply the tech to preexisting industries, such as supply chain and data management. Each day seems to give birth to numerous brilliant projects that can positively change the world or, to be blunt, fail in the process of attempting to do so. Because of the limited real life application of blockchain technology, there seems to be a risk attached to launching a project. Regardless of the risk, many people are starting their own projects. 

Of these projects, I find some to be particularly useful for humanity, and these projects can actually make our world a better place. For example, in our age today, industrialization has hurt our environment through the emission of harmful gases. Motor vehicles are a big contributor to this mess. To combat this problem, CyClean has come up with a solution.

CyClean is a project that promotes clean energy through a rental system of electric vehicles. It applies blockchain technology and smart contracts (we’ll get back to that later) to encourage people to use electric vehicles, thus reducing the emission of toxic gases. CyClean proposes a realistic solution to an issue that has plagued people for many years, and I am excited to see how it contributes to a cleaner earth.

I hope you stick with us on discovering more about blockchain, cryptocurrency, CyClean, and many other interesting topics. We’ll be back with another post tomorrow. 

Thank you!

** For more information about CyClean, please visit our website at cyclean.io.