Post
Topic
Board Beginners & Help
Re: What will bitcoin will look like once fully regulated?
by
nngella
on 03/07/2018, 00:33:42 UTC
Will it be then better, than any other existing currencies?

I think this defies the definition of blockchain.  If bitcoin becomes centralized, then it is not a blockchain anymore but more like a bank.

I think you need to read more about how blockchain works.  The information below might be helpful to you:


What is Blockchain?

  • It is like a database duplicated thousand of times across a network of computers, in which the network of computers have access to the database at the same time to regularly update the said database;
  • Information are shared (and continually reconciled) throughout the whole network; and
  • Data are accessible to anyone - no centralized version exists for hacker to target to corrupt.

How Blockchain Works?

I think it is wonderfully shown on the picture below:


Source