The hype behind bitcoin and it’s underlying framework block-chain seems not have faded, for some it’s interesting because it might be interesting to trade in, but be warned it’s a volatile market.
What bitcoin is, is a cryptocurrency and it might be the first but not the only one, there’s more out there that outperform it on a price per coin value. The added advantage to normal currency is it’s not regulated and it’s very sucure that faking a transaction is practically impossible due to it’s distributed nature.
To put it in context of Candy Crush or Clash of Clans,the game which has an inbuilt coin system, you get some of these coins “free” at the start of the game, but you can’t redeem them for real cash, main difference. You use these coins to mainly quickly progress through the game.
In Clash of Clans for example doing something like upgrading a barracks at the start of the game might take a few seconds at the start but as you want to upgrade it to the next level it takes even more time: 5 min > 20 min > 1 hr > 3 hrs > 6 hrs > 1 day > + 1 day this is in real not imaginary game time. At the beggining these gems, you use them to skip the delay. These gems though are not renewable and you likely will get very few after the initial at the start of the game, and the required gems to skip the delay also increases propotional to the time remaining.
Not to worry though the game will prompt you when the upgrades are done so you can start the game again and continue with another upgrade. This allows you time to use other apps and at the same time feel invested in the game, if you feel the delay is taking too long though you can buy gems with real money and use them in the game. The game is free on the playstore but using this ends up as one of the highest ranking earning games on the store.
There’s a range of how many gems you can buy for between $5 — $20 and above that could help you get that upgrade you need, at this point you’ve already invested you’re time into the game and the same way with nice fight animation and moving game characters you feel invested in the wins and losses of the game, a well played out psychological play that to you if you’re in the earning bracket where $10 is not much and certainly less that most PC games and things you buy worth that amount are not neccessities you can logically conclude your time is worth more than the $10 it would take to wait over a day for the upgrades to finish.
Anyway take this and remove the game and leave the transaction system, instead of a centralized one where the game dev’s server handle all transaction, blockchain allow all connected systems have a record/ledger of all transactions and the cummulative network will verify every transaction, since all transactions have a key, this key will be used to verify the movement of every coin and fraction of it. Since coins aren’t created on the fly to meet demand the more people buy coins the more the value of each coin increases.
The added advantage is you can also take out you’re cash anonymously and pay someone also anonymously, this would be perfect for the infamous problem of cleaning money since all you’d need to do is slowly deposit and pay another account that belongs to you and no one would be the wiser, all this being untracable. The effort needed to trace you would require a huge effort on the agency or government since unlike a bank that would have to meet regulations and reply to a court order, bitcoin has no authority and likely then won’t respond to any courtorder. They don’t know who each account belongs to and even if you wanted to know if John Smith had any bitcoin accounts you simply couldn’t.
It’s so reliable it’s the main payment method for ransomware that lock up your pc and encrypts your files unless you pay a certain amount to a bitcoin account, you can and people have even used this to blackmail police stations in the states and got away with it.
There’s something similar to the blockchain method, the torrent network that allows you using a magnet link request any pc with the torrent application if it has the files you want to download, the collective computers upload speed is the upload shared to all PC’s requesting and downloading the files. At the same time any chunk you’ve downloaded can be used to send to other PC’s that haven’t downloaded this section, this can allow the network to share files without a central server. The added advantage is since it used udp not tcp connection it has resume capability and will resume downloads at any point provided there’s a seeder with the files you need with an active connection.
There is something very interesting though in some job posts I’ve seen, asking for experience in setting up blockchain, not an understanding of how it works. I’m not even sure which language implementation they’re interested since it very likely can be setup in most high level programming languages, but I digress. I hope for one if you post this as a neccessary skill you have block chain implemented already and a practical use case for it. Expecting me however to have linked some PC’s, setup a blockchain network, to what end? I can’t take you seriously.