In case, you were having trouble understanding Bitcoin, let us delve on it with simple to understand example. It would help you make the most of playing crypto games.
Imagine you were sitting on a bench with a friend. You have an apple in your hand. You give the apple to your friend sitting alongside you. The scenario would be your friend having an apple and you do not have one, as you have given the apple to him. It is as simple as it sounds. Lest us watch closely what exactly happened here.
The apple has been physically put into the hands of your friend. You are aware of it, as your friend would know about the apple being placed in his hand. You both are aware about the transfer of apple to your friend’s hand from yours. You both know it, as you both have touched it.
You did not require any third person to help you make the transfer process. You do not need any person to witness the transferring of the apple from your hand to your friend’s hand.
The apple belongs to your friend now. You would not be able to transfer the apple to any other person, as you are not left with any apple now. You would not be able to control the apple now. It has been out of your possession and your friend has complete control over it. He could transfer the apple to another person. That person could transfer the apple forward to another person and so on. This is what you mean by in-person exchange.
However, what if you transfer your friend a digital apple? Your friend may not be aware about the digital apple being transferred to him. It gets complicated here on. Your friend may not be aware of the digital apple being sent to any other person as an attachment. Your friend may not be aware about any copies being made by you on your computer. Your friend may not be aware of the number of copies made by you and put online to be downloaded by million people.
Transferring of digital apples is not similar to physical apples. It has been popularly known as double spending problem. You should not fret, as solution has been made available in the present times.
You would need a ledger to track digital apples in Crypto Games. It is similar to an accounting book. The book would be left in charge with someone.
The ledger would be handled by everybody. Rather than the ledger being with one person, it would be with everybody. Every transaction happening pertaining to digital apple would be recorded in the ledger with every person. You would not be able to cheat it and send digital apple that you do not have.