Topic: Describe the blockchain in one sentence - page 2. (Read 4488 times)
It's also called DLT for distributed ledger technology, and that's it in its most basic form.
A blockchain is an immutable (unchangable), decentralized open ledger.
I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
Blockchains are records or what you call ledger in accounting that keep all the transactions being done.
I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
Block chain is huge source of big bucks.
This is realy works for me if someone asking me the same question. I am saying thag bitcoin is just a part lf the chain and the blockchain is the one who make transaction easy, annonimouslly and transparently.
The blockchain is an entirely new way of transferring money without the involvement of traditional banking networks, as well as the way data is stored in a transparent and unchanged form.
Block (a chain of blocks) is a distributed database, in which storage devices are not connected to a shared server, this database stores an ever-growing list of ordered records called blocks.
A blockchain (block chain) is a distributed database that does not have storage devices connected to a shared server.
Blockchain is a completely new way of transferring money without the participation of traditional banking networks, as well as the image of data storage in a transparent and unchanged form.
Blockchain is a public, authenticated, online ledger that tracks and verify every time the virtual money (cryptocurrency) is used on it.
blockchain is a technology.to explain to friends more clearly, I always put in the example of the program utorrent.The principle of this program is more clear to tell briefly what it is
Blockchain is a secure platform upon which Decentralizwed transactions and public ledger is displayed
Bitcoin is the future and we gradually moving onto the future, it's also transparent, open, profitable and free for all who are interested.
Just the actual blockchain and no point out of bitcoin or anything else? I wager sincerely put it is a decentralized virtual public ledger however that does not without a doubt tell a layman much about it to be honest.
Decentralized and freedom because bkockchain is designed as a decentralized technology that use in global network computers to manage the database that records bitcoins transactions.
I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
it seems that I can not describe bitcoin in just 1 sentence, but in general bitcoin is a digital currency that can be used for one of the payment methods when you buy something in the world of internet or real that can use bitcoin as payment.
The blockchain is a public, authenticated, write once ledger of transactions, providing transparency by being public, authentication via cryptography and security by being unmodifiable.
Technical:
Blockchain is an immutable and sequenced data structure that uses hashing algorithm.
Layman:
Blockchain is a technology used by cryptocurrencies to store transaction data in a very secured manner.
Blockchain is an immutable and sequenced data structure that uses hashing algorithm.
Layman:
Blockchain is a technology used by cryptocurrencies to store transaction data in a very secured manner.
blochain the partner of currency or bank.
Usually serves as a permanent public record of all transactions included in a valid mined block, But more than that, all nodes broadcast blockchain to each other.
Blockchain is suitable for recording events, medical records, transaction processing, notarization, identification and proof of origin. This has the potential to alleviate the consequences of data change in the context of global trade.
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