{"id":1043,"date":"2016-09-09T11:10:00","date_gmt":"2016-09-09T11:10:00","guid":{"rendered":"https:\/\/blog.holytransaction.com\/2016\/09\/blockchain-use-explained-with-google-docs.html"},"modified":"2023-01-08T05:47:32","modified_gmt":"2023-01-08T03:47:32","slug":"blockchain-use-explained-with-google-docs","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/09\/blockchain-use-explained-with-google-docs.html","title":{"rendered":"Blockchain use explained with Google Docs"},"content":{"rendered":"<div style=\"text-align: justify;\">To explain how the <b>blockchain use<\/b> to the newbies it is easier to <b>compare its functionality to Google Docs<\/b>, the popular document tools I\u2019m using to write this article.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThe Business of Blockchain\u201d author, <a href=\"https:\/\/holytransaction.com\/blog\/?s=william+mougayar&amp;submit=Search\"><b>William Mougayar<\/b><\/a>, in fact, said that the <b>two tools have something in common<\/b> and this comparison is very useful to explain the blockchain use.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Everyday you can find new use cases of the distributed ledger and the more people understand how it works, the more we will see an improvement in this revolutionary technology.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><b>Who invented the blockchain didn\u2019t probably imagine all of its possible applications<\/b>, which is the reason why nowadays there are more and more experts with a deep knowledge in a particular side of the technology.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">But, the first step is having a good expertise in the blockchain use.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<h3 style=\"text-align: justify;\"><b>Blockchain Use is similar to Google Docs<\/b><\/h3>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The blockchain is similar to a database, but the ledger doesn\u2019t revolution databases themselves, but how they get synchronized, explained Mougayar in his article appeared on Coindesk.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">If two banks need to update their own account balances, they need to spend a lot of time and energy to coordinate, synchronize and ensure that each transaction works correctly.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In this case, money is held by the sender until it is received by the beneficiary.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">But with the blockchain, this process changes a lot because there is only a single ledger and not two separate databases.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><b>This is similar to Google Docs<\/b>: what happens when you share a document and users need to edit it?<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">With traditional text editors users need to transfer the documents back and forth, losing time, energy and likely losing track of the versions.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">With Google Docs, instead, all the users involved have access to the same document at the same time, and that document together with the updates are always visible real-time to each of them.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The same thing happens with the Blockchain compared to traditional ledgers.<\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>To explain how the blockchain use to the newbies it is easier to compare its functionality to Google Docs, the popular document tools I\u2019m using to write this article. \u201cThe Business of Blockchain\u201d author, William Mougayar, in fact, said that the two tools have something in common and this comparison is very useful to explain [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[108,165,234,307,396,686],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - 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