Keep Network, Bitcoins and Blockchains

Keep Network

Keep is an off-chain container for private data. Keep is an off-chain container for private data. It helps companies harness the full power of the public blockchain which allows for deep interactivity with private data.  

Blockchains
 
A blockchain basically allows everyone to hold and make transactions as strangers but in a completely transparent manner. Basically, it is a system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers that are linked in a peer-to-peer network. A blockchain is literally a chain of blocks where the block represents digital information that gets stored in a public database which is the chain.  Blocks have three parts.
One, they store information about the transactions like the amount spent, the date and the time of your Amazon purchase for example. Two, they store information about who is participating in the transaction. A block would record your name in the form of a digital signature along with Amazon Inc. Three blocks store information that distinguishes them from other blocks. Each block has a unique code called a hash. Blockchains are not private. Anyone can view the contents of a blockchain but users can also decide to connect their computers to the blockchain network. This allows them to receive a copy of the blockchain that is updated automatically whenever a new block is added.  However, people do not have access to identifying information about the transaction. To address the issue of trust blockchain systems have a proof of work system. In this system, computers must prove that they have done work by solving a complex math problem. If the computer can solve the problem they are allowed to add to the blockchain. The goal of global blockchain is to have digital information recorded and transmitted but not edited.  

Bitcoin

Bitcoin is a protocol built on the blockchain. Bitcoin is not controlled by a person but instead verified by a network of computers. When people pay for things using bitcoin the computers on the bitcoin network go to verify the transaction. The completed transaction is publicly recorded and stored as the block on a blockchain which cannot be edited. Although the transaction is publicly recorded the user data is not. In order to pay for things in Bitcoin people must run the program called "wallet." This program has two cryptographic keys; a public key and a private key.  The public key is the location where transactions are deposited to and withdrawn from. This is also the key that appears on the blockchain ledger as the user’s digital signature. A user’s public key is a shortened version of their private key, created through a complicated mathematical algorithm. Because the equation is so complex it is nearly impossible to reverse the process and generate a private key from a public key. Because of thsi blockchain technology is considered confidential. Bitcoin has become increasingly popular over the years and continues to grow. 



https://www.investopedia.com/terms/b/blockchain.asp 
https://blog.keep.network/introducing-keep-2a186ebffd44