A brief introduction to what happens behind the scene...

What is a Blockchain

Blockchain (a chain of blocks) is a distributed digital ledger of transactions of any kind that is secure and very much transparent. it is powered by a system of powerful interconnected computing systems. these systems run 24hrs, perform several complex calculations and consume massive energy to ensure that every block in a chain has the same copy of a financial transaction (for example). blockchain has applications in so many fields but its mostly used in the financial sector. it is a distributed system i.e. it is a decentralized system, meaning it's power is not controled by one person... No government owns it, since it is distributed and no one person can control it. Because of its complexity, and the massive number of interconnected blocks within the chain, it cannot be easily hacked or compromised i.e it is immutable. this is simply because for you to carry out a successful hack to alter data, you must alter all the blocks in the chain where that particular transaction is saved. this is practically impossible because all nodes maintain the same snapshot of a given transaction and they would immediately detect an invalid transaction (hash would be invalid) and it would therefore not be processed. The longer the chain the more difficult and complex it becomes. so many mathematical algorithms are involved and it requires massive computing power to mine the cryptocurrency. However, because of the massive resources required to maintain a blockchain, only a few mining corporations have that massive processing powers which means they indirectly control the underlying technology. Really, the underlying technology is a litle complex but thats not the focus of this write-up.

What is cryptocurrency?

It's a merger of two words: "Cryptography" and "Currency". Quite simply, Cryptography is simply the art or science of transforming plain text to cipher (encrypted) text in order to conceal or hide it's meaning thereby preventing unauthorized access to it. The word 'cryptocurrency', is a digital cryptographic currency secured with an irreversible hashing algorithm which means its practically secured and cannot be monitored or altered easily i.e it cannot be easily hacked or compromised. No government owns the cryptocurrency and that means no one can have total power over it. the individual who owns the specific cryptocurrency is the only one who has control over his/her currency. that is to say individual owners of the cryptocoin have total control over it. This is Satoshi Nakamoto's idea of a Peer-to-peer networking system that is not controlled by some elite few but decentralized and accessible to all. This means power to the people not a single government. e.g. of cryptocurrencies are bitcoin and pinkcoin. we have so many others.

Cryptocurrency and Blockchain

These are two different entities but one depends on the other. A cryptocurrency, like bitcoin, requires the power of blockchain to run. it uses the underlying blockchain as a form of database to maximize its full power. This means digital information is stored in a database that makes up the chain. In this case, the digital infornation is a distributed ledger called the cryptocurrency (bitcoin for example).

Cryptocurrency and blockchain are here to stay and the world is already begining to see the potentials of this technology.

Inksnation and Pinkcoin

Inksnation devised a new way of maximizing the use of the blockchain technology. why not have a block of interconnected nodes backed by human assets and not the regular financial transactions blocks. This is not your regular cypocurrency backed by financial transactions (like bitcoin). each node on the block chain is a human asset and like you know, as each person joins or register, he/she becomes a part of the blockchain, the more people join, the longer the blockchain, the longer the blockchain the nore effective it becomes. Bitcoin is only leading today because it has the highest number of interconnected blocks and it uses a kind of distributed financial ledger. inksnation uses humans assets on the blockchain which makes you benefit from Universal Child Basic Income (UCBI). This is quite a revelation. Remember, the longest chain wins and totally dominates! The fact that this platform is backed by human asset means 18million nodes is achievable in a country of over 200 Million people. Its possible! This is a remarkable project. Please try and understand the idea and make the idea your own. Moreover, it takes a lot of financial burden to maintain this project and the only way to assist is by spreading the word and enlightening people properly.

The current legal tender especially the NAIRA is losing its worth.

It is no longer news that the exchange rate of the naira to other currencies is on the high. Like every technology or every technological revolution, there is a gradual shift to the digital currency world. it might take a while, BUT LIKE EVERY GREAT THING IT WOULD TAKE A WHILE TO MATURE. But it is the future of transaction no doubt! Really, its application are wide and broad. i am only concentrating on the financal aspect.

The need to CHANGE your mindset

When most people signed up to inksnation.io, they really did not have a good knowledge of inksnation's mission and objectives. it's obvious the mindset was that it was like a money doubling scheme or some kind of financial investment that yields profit after a while. This is not entirely correct! when you join the Blockchain with such mindset, you would easily get disappointed. INKSNATION IS A LONG-TERM PROJECT AND REQUIRES A COLLECTIVE EFFORT. IT WAS NOT CREATED EVEN FOR EXCHANGING TO THE NORMAL LEGAL TENDERS. Exchanging was only introduced because people needed to be convinced. People naturally have the mindset of always wanting to RECEIVE and not GIVE. This is why the creators of inksnation decided to bring the idea of exchanging to allow for more people to join the chain. BUT THAT IS NOT THE SOLE AIM OF THIS PROJECT. The aim is FINANCIAL FREEDOM!!! I cannot overemphasize on it. its a collective work if we want to achieve and reao its benefit. The potential is there for you to see. Look at the statistics of people in the chain and the worth of Pinkcoin. PLEASE TRY AND UNDERSTAND AND STOP EXCHANGING YOUR PINKCOIN! Keep it and let it materialize. As long as you're on the chain, no one can tamper with it except you. you control it! Your pinkcoin is worth more than what you're exchanging it to. It might not look like it now but give it time and you would understand the idea. WE ALL HAVE A STAKE IN THIS CHAIN. It is our responsibility to actualize this dream. When you join, don't join because you want to get your money back after a while. NO! Join because you want to make our world a better place. We can use technology to make our world better but we only need to understand and harness its power! By God's grace, it is possible but WE MUST CHANGE OUR MINDSET!

Inviting people to join

When inviting people to join, please kindly explain these facts to them, people need to understand so that they won't join with the mindset of getting back their money after a few weeks through exchangers. people need to be properly educated on the mission statement of these project. its on the website at inksnation.io. check it out! do you research and try to understand it before joining or bringing in people to join. There has been several incidents of late of issues between exchangers and end users. This is because these people joined with the wrong intentions or motives. Please lets be informed.

Finally, like i said earlier, this is a collective project. Let us strive to make these project a reality. IT IS POSSIBLE IF WE BELIEVE AND MAKE EFFORTS TOWARDS ITS REALIZATION.

This article was written solely to enlighten people on what Blockchain entails and how it is being used to better the lives of humanity through Inksnation.io.