Blockchain.
An innovative technology capable of storing and displaying transactions all over the world that is monitored by a network of computers and can be seen by the general public, though the data displayed cannot be altered or changed by any means.
Topic: Describe the blockchain in one sentence - page 8. (Read 4488 times)
Blockchain for me means being able to store, send and receive value without using a bank and also to avoid governments.
On topic, this sentence.
A tamper-proof, transparent, democratic public ledger.
It is in no way democratic as there is no "voting" or "majority rules" but simply "the rules of the software" (is the >50% attack the reason you included that word?).
So perhaps just: A tamper-proof, transparent public ledger.
If a bunch of miners that had a hashing power over 51% decided to change something bamzo.. it is changed. This is the reason I mine.
IMO if you are a "bitcoiner" and you are not mining you are not a bitcoiner.
I think all "bitcoiners" should be protecting the network. ROckminer.. $100 and you can help protect it. Shoot kijiji and you can get an S3. Although the "new r-box" doesn't use much power so it' is great!
The block chain is a public database that records bitcoin transactions. - This description is sufficient enough. The simplest and the most accurate one.
Tetris. The blockchain is like a recorded game of Tetris that you can visit at any point in it's past, that is continuously being played by multiple computers at the same time.
50 Horses run with a set of Military instructions to the same location and back, once 30 of the horses have returned, the message is treated as confirmed, with no more than 20 total intercepts being thought possible.
Public database to all bitcoin transaction 
I think it's pretty simple, than looking in wikipedia
I think it's pretty simple, than looking in wikipedia
I think the OP would like to know our description of the word "blockchain" and everyone has his own word to explain what does it mean block chain.
It is a public and private ledger.
It is not a private ledger - or are you referring to some sort of secretly embedded information?
(that still doesn't make it a private ledger - but a public ledger that also contains some private ledgers)
Yes exactly, that is what I wanted to say. Thanks for the explanation and you are right the blockchain is a public and nor corruptible ledger (much more interesting than the numerous banks).
A tamper-proof, transparent, democratic public ledger.
It is in no way democratic as there is no "voting" or "majority rules" but simply "the rules of the software" (is the >50% attack the reason you included that word?).
So perhaps just: A tamper-proof, transparent public ledger.
If a bunch of miners that had a hashing power over 51% decided to change something bamzo.. it is changed. This is the reason I mine.
IMO if you are a "bitcoiner" and you are not mining you are not a bitcoiner.
Blockchain for me means being able to store, send and receive value without using a bank and also to avoid governments.
A legitimate, unchangeable, digital public ledger.
A secure public ledger that cannot be changed.
As to the democratic question I think it is not so much democratic because it is so difficult to change the protocol. I think of it like the US constitution in that you can fork it but you need a large consensus to do it so changes are exceptionally rare.
As to the democratic question I think it is not so much democratic because it is so difficult to change the protocol. I think of it like the US constitution in that you can fork it but you need a large consensus to do it so changes are exceptionally rare.
But the blockchain can be changed, even in hindsight you just need over 50% of the networks hash power (for PoW).
I would not know how to improve CIYAMs answers either to be honest.
A tamper-proof, transparent public ledger.
I think that is about as "short and sweet" as it gets.
I like the word "database" when describing the blockchain. As opposed to "ledger". I feel it is easier to relate to in terms of common folk.
I dont like database because it results in wrong associations IMHO. One would think of a database as something that keeps track of balances, while the blockchain does not do that. A ledger is similar in that regard, but if you think of it as a traditional accounting book you are very close to what the blockchain actually does. It keeps track of the transactions, a balances at a certain point in time would have to be calculated out of the history of the transactions same as in an accounting book.
It's a bunch of magic numbers & stuff that only people with glasses and no life really understand. 
Uhh, I think Ill have to re-evaluate my previous statement, this might be very well the best definition yet.
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
Its a decentralised open-to-public ledger containing all transactions and sizes of transactions that everyone can use, but noone can alter to ensure safety, unlike what banks use.
anyways thats how i would describe it, but its not like you can go ahead and say that without people asking you bunch of additional questions,
but i believe its enough to spark an interes.
cheers
It's a bunch of magic numbers & stuff that only people with glasses and no life really understand.
Okay. Here's my attempt to describe the blockchain technology. I would say "It's a public ledger that carries all the transaction log maintained by the everybody but controlled by nobody."
It is a public and private ledger.
It is not a private ledger - or are you referring to some sort of secretly embedded information?
(that still doesn't make it a private ledger - but a public ledger that also contains some private ledgers)
A legitimate, unchangeable, digital public ledger.
I love that description, and I would like to quote it. It is a public and private ledger.
Or even simpler just: 'a ledger'
That doesn't differentiate from any other ledger so "cute - but not helpful".
The OP asked for "one sentence" so asking now for more sentences is just going off-topic.
I would have thought that most people would be more familiar with the term ledger than database but maybe this is a generational thing.
A tamper-proof, transparent public ledger.
I think that is about as "short and sweet" as it gets.
Or even simpler just: 'a ledger'
Could anyone actually describe it in detail in a few sentences? I think just saying the blockchain is a A tamper-proof, transparent public ledger doesn't do it justice in my opinion (but I'm probably no good at explaining it).
I like the word "database" when describing the blockchain. As opposed to "ledger". I feel it is easier to relate to in terms of common folk.
A secure public ledger that cannot be changed.
As to the democratic question I think it is not so much democratic because it is so difficult to change the protocol. I think of it like the US constitution in that you can fork it but you need a large consensus to do it so changes are exceptionally rare.
As to the democratic question I think it is not so much democratic because it is so difficult to change the protocol. I think of it like the US constitution in that you can fork it but you need a large consensus to do it so changes are exceptionally rare.
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