Topic: Do you know what is a blockchain...? - page 3. (Read 732 times)
The blockchain technology is extremely helpful for the world of crypto currency. the blockchain is ledger where all the transaction of the crypto currency is recorded. The best part of it is that it cannot be edited, once an amount is transferred it is recorded and the record cannot be erased. Also the encryption system is very secure keeping away hackers.
Block chain technology is the publicly distributed ledger system which records all the crypto currency transactions all through out the globe and every one can view the transactions recorded in the block chain system which makes it easier for further auditing. Block chain system all the transactions are recorded in a clear and system way so no one will be able to manipulate the block chain system as it is a system generated technology or can be called the decentralized which does not have any central authority for controlling the system.
Yes of courses
a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
Blockchain is a decentralized database that stores a a registry of asset and transactions across a peer-to-peer network. It's basically a public ledger showing who owns what and who transacts what. Through the cryptography, the transactions are secured. Over time, that transaction history get locked in blocks of data that are then cryptographically linked and together and secured.
You can visualize that Blockchain is a shared ledger which keeps record every transaction performed through it. The network runs as following steps:
1) New transactions are broadcast to all nodes.
2) Each node collects new transactions into a block.
3) Each node works on finding a difficult proof-of-work for its block.
4) When a node finds a proof-of-work, it broadcasts the block to all nodes.
5) Nodes accept the block only if all transactions in it are valid and not already spent.
6) Nodes express their acceptance of the block by working on creating the next block in the
chain, using the hash of the accepted block as the previous hash.
1) New transactions are broadcast to all nodes.
2) Each node collects new transactions into a block.
3) Each node works on finding a difficult proof-of-work for its block.
4) When a node finds a proof-of-work, it broadcasts the block to all nodes.
5) Nodes accept the block only if all transactions in it are valid and not already spent.
6) Nodes express their acceptance of the block by working on creating the next block in the
chain, using the hash of the accepted block as the previous hash.
In essence, Blockchain is a transparent publicly accessible ledger. Using public key encryption and proof of work methods, it enables us to securely transfer money. It has some following features:
1. Every verified transaction is added to the ledger as a “block”. Thus all data exchanges are kept.
2. Each transaction is verified by a distributed system, or a peer-to-peer network.
3. Transactions are irreversible, meaning that once sent it is impossible to reverse the transaction to recover them.
1. Every verified transaction is added to the ledger as a “block”. Thus all data exchanges are kept.
2. Each transaction is verified by a distributed system, or a peer-to-peer network.
3. Transactions are irreversible, meaning that once sent it is impossible to reverse the transaction to recover them.
Blockchain is basically a data structure which hold data related to crypto transaction. You may google it also.
A blockchain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Blockchains which are readable by the public are widely used by cryptocurrencies. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications.
Blockchain is a technology introduced with Bitcoin by one or a group calling itself Satoshi Nakamoto which was originally used to record the financial transactions of bitcoin.
Simple blockchain is a data structure that can not be changed can only be added only. Each data from this blockchain is connected where if there is a change in one of the data block it will affect the next data.
Simple blockchain is a data structure that can not be changed can only be added only. Each data from this blockchain is connected where if there is a change in one of the data block it will affect the next data.
Blockchain is basically a growing list of records which includes the buying, selling i.e exchange of products between two efficient individuals or parties. This is widely used in Cryptocurrencies. And it records transactions in a verifiable and permanent way.
Mainly Blockchain is a system also it have good reputations in market many big companies are using this because if its value based on this it’s a decentralize system so everything is clear and transparent to the users also it is using in Crypto market also , BMW , UPS , walmart etc.
i am new in krypto world ... i do not know yet fully
There are more answers with that question but the best thing to know what black chain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain? By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, (Buy Bitcoin) the tech community is now finding other potential uses for the technology. There are more factor can describe blackchain.
an openly distributed ledger system that records all crypto currency transactions worldwide and everyone can view transactions recorded in a block-chain system that make it easier for further audits. The block chains system of all transactions is recorded in a clear and systematic way so that no one can manipulate the block chain system because it is a technology-generated system or can be called decentralized that has no authority BlockChain's technology is a remarkable method of the current digital era. BlockChain technology is used in many countries around the world. I do not know much about blockchain. I think the blockchain system is a complicated system, so I want to know more about it.
I want to know whether what is a blockchain technology...? If you know, please explain as simple as possible....
A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. This allows the participants to verify and audit transactions inexpensively. A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server. They are authenticated by mass collaboration powered by collective self-interests.
I know a little bit about blockchain technologies and I am sharing it with you. It is a decentralized database network and it keeps all data about transaction of bitcoin.
We all know what a blockchain is, that is the main reason of why we all are still in here. A blockchain is what is inside bitcoin, without the entire blockchain technology, there would not be any bitcoin in here, and we all already know that.
In simple words blockchain is nothing but a decentralized database. This concept is really innovative too and thus is being used not only in crypto but also in many big companies.
It's more like a data structure that can be used in a distributed network to settle the question of transaction priority in an objective manner. And by doing that it solves the problem of double spends.
Have never bothered to answer to answer this question myself but I think it stands is related to digital ledger which the public can have access to when the transaction is done.
Blockchain is a digital technology build with the concept of decentralization. Basically, blockchain is a way of creating a decentralized global market to record transactions for its future use.
Blockchain was invented by Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications.
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