Friday 6 July 2018

The Auto Coin

Blockchain technology first came to prominence as the technology underpinning the Bitcoin network, which was introduced by Satoshi Nakamoto (pseudonym) in 2008. Many have compared this technology to the internet, as it is building new digital roads to interconnect people, computers and data. The technology is evolving at a very fast rate and new features are being tested on a regular basis, which makes it hard to isolate a set of defining attributes.
As a result, it is helpful to distinguish between the broad and narrow uses of the term. In broad terms, blockchain is used to describe the suite of technologies that allow (i) computers in a peer-to-peer network (ii) to reach agreement over (iii) shared data. Though the word blockchain, in its broad sense, is often used to describe these 3 elements, the term distributed ledger technology (DLT) is more accurate in this context. This distinction is relevant because there is a narrower (and more natural) meaning of the word blockchain.
In the more narrow sense, blockchain refers to a specific data structure that a network’s shared data usually (though not necessarily) will adopt. A data structure is a way of organising and storing data so that it can be used efficiently. In a blockchain data structure, the data in the ledger is organised into a series of interlinking blocks. These blocks are indexed in a similar way to page numbers. Each block contains a timestamp and a link to the previous block, with the result that a chain of blocks is created.
The blockchain data structure makes it simple for computers to verify the consistency of a long and growing number of ledger entries. Blocks are signed with a digital fingerprint, known as a hash value (or ”hash”), which takes the form of a string of characters that is fixed in length. Each block also stores the hash of the previous block in the chain.
Hashes are useful because they are data-specific. If an alteration is made to the data within a block, the block’s hash will change and the chain will break. Should a person attempt to distribute a corrupt ledger, for instance by replacing one of the addresses in a previous block for their own, other nodes will identify the misalignment and reject that version of the ledger. Therefore, this simple tool enables nodes in the network to agree on which entries should be rejected without having to rely on a central authority. This can lead to savings in costs and time, while providing access to a global payments infrastructure.

The Auto Coin

The Auto Coin is the direct derivative of the Bitcoin or other cryptocurrencies. Though digital currency is taking over the world, it has not yet been welcomed by the automotive industry. Both buyers and sellers aren’t aware of the many benefits of the cryptocurrency, and most don’t use it because of the complicated process.
Fortunately, The Auto Coin makes things a lot simpler by providing a platform that’s safe, secure, and reliable so you can manage all your motor financial transactions from one place without worrying about identity theft or any other issues related to banking and international transfers.

The AutoBlock vehicle data

The AutoBlock vehicle data makes it easy to access information about a car that’s reliable and transparent. Instead of relying on particular parties and centralized systems, you can look at the untainted data provided by the portal and decide the worth of the car you’re considering. You will have the complete history and live data about the vehicle before you make the final deal so you won’t have any doubts about your decision.

Vehicle valuation system

With The AutoBlock’s independent valuations system, you don’t only get rid of biases but also make sure that the data provided has all the information from when the vehicle was manufactured, to when it is being sold to a third party. The combined features of The AutoBlock will help in removing the barriers from the automotive industry and make sure that things run smoothly.

For more information please visit:
Bitcointalk profile link:;u=1925101
DISCLAIMER:This post was brought to you by Opeyemi being my personal project on autoBlock campaign project

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