Topic: Blockchain Mechanism (Read 57 times)
I am also new here,what I am doing right now is reading and educating myself first.I have already a little knowledge.Thanks for the link provided here.
I am all new here. I am interested in getting some pointers to learn the mechanism of the blockchain.
i.e. how it functions.
Thank you all
i.e. how it functions.
Thank you all
A Blockchain is a digital ledger in which transactions and data (ie: smart contracts etc) are recorded publicly and chronologically. Its like a spreadsheet that is copied thousands of times across a network of computers and that this network is designed to regularly update the spreadsheet. It cannot be controlled by any single entity and is transparent and incorruptible. The implementations of Blockchains are limitless.
The blockchain mechanism, in the financial system, to ensure that no money is lost, all transactions are recorded in the ledger. Each financial institution must have a ledger that will ensure that the amount of money entered and exit is recorded correctly. In digital payment platforms, such as paypal, which involve a number of different financial institutions, is the person responsible for recording any transactions that are bypassed. That's how the blockchain mechanism is for me.
Adding onto the resources shared by seoincorporation, here are a few more which you might find helpful -
1. https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833
2. https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj
Also, check out the resources on https://lopp.net/bitcoin.html. You'll find a lot of information there, from a beginner to an advanced level.
1. https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833
2. https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj
Also, check out the resources on https://lopp.net/bitcoin.html. You'll find a lot of information there, from a beginner to an advanced level.
Blockgeeks are a great resource. They do a fairly good job at breaking down rather complex and abstract concepts into beginner guides. Check out their blockchain guide: https://blockgeeks.com/guides/what-is-blockchain-technology/
Hope this helps. It's a difficult concept to wrap your head around in one day, keep doing your own research. Just fyi this forum has covered this topic numerous times, use the search option.
Hope this helps. It's a difficult concept to wrap your head around in one day, keep doing your own research. Just fyi this forum has covered this topic numerous times, use the search option.
I am all new here. I am interested in getting some pointers to learn the mechanism of the blockchain.
i.e. how it functions.
Thank you all
i.e. how it functions.
Thank you all
You will find some good resources in the Bitcoinwiki: https://en.bitcoin.it/wiki/Main_Page
There are some good books in there to download, like "Mastering Bitcoin", by Antonopoulos: https://en.bitcoin.it/wiki/Mastering_Bitcoin
I am all new here. I am interested in getting some pointers to learn the mechanism of the blockchain.
i.e. how it functions.
Thank you all
i.e. how it functions.
Thank you all
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