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What Blockchain is and how it works in 6 steps

by , 27 August 2020
What Blockchain is and how it works in 6 steps
Q. “Timon you mentioned that the future of investments, apps and businesses all lie in the Blockchain technology. Now before I started reading about Blockchain from you and Sam Volkering I only ever heard of Crypto-currencies. Could you explain what a blockchain is and how it works when it comes to making a transaction?”
 
 
A. Sure, I’ll try my best…
 
A blockchain is like a digital ledger that records transactions (a.k.a BLOCKS) in an organised and verified way.
 
Each transaction that is made, is then positioned next to the previous transaction which links a permanent and transparent CHAIN of all the other transactions.
 
Blockchain is one of those topics that is difficult to explain, but easy to visualise… And so I have created an infographic to explain how Blockchain works in six simple steps…
 

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What a Trading Tips reader has to say:
 
It’s some talent you guys have to be able to explain such complicated investment topics in an easy and understandable way. I’ve just turned 55 and I feel incredible knowing I can keep up with your articles and the information you have to offer for free to us every day!
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From being a purely exploration company four years ago – this company now has four operational projects all generating cash.
 
In fact, it just reported its sixth consecutive double-digit growth in revenue!
 
You see, this metals business is focused on extracting profits from minerals everyone else is ignoring.
 
Its results already prove it’s quite good at doing this.
 
And things are about to get a whole lot better for this precious metals mining company!
 
 
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Q. “Timon with regards to your new gold analysis, does the low yields and plummeting interest rates also play a part with gold heading to over $2,500?”
 
A. I would imagine it would play a huge role with the gold rally.
 
Now that the US interest rates are at record lows (almost zero), investors will take their money out of low-risk investment vehicles such as, savings, money market and bond yields.
 
This means, they’ll exit from their US positions which will lead to a weaker US dollar. This is what we’ve been seeing lately.
 
In fact, the US dollar has been weakening against every G10 and most emerging market currencies since the beginning of August.
 
And this is good for the gold rally as the metal is priced in US dollars.
 
Here’s what Edward Moya, a Senior Market Analyst at Oanda said about the main driver of gold’s rally.
 
 “…has been real rates that continue to plummet and don’t show signs of easing anytime soon.”
 
And as the US dollar continues to weaken, the higher the gold price will head which confirms with the analysis on Monday – Which I urge you to read if you haven’t done so yet.
   
Trade well, 
 
Timon Rossolimos,
Analyst, Red Hot Storm Trader 
 
PS: Did you know!
 
Timon has banked his Red Hot Storm Traders 4/4 winning Gold CFD trades this year with over a 202% cumulative gain…
 


What Blockchain is and how it works in 6 steps
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