Author

Topic: What are blocks, blockchain technology and hash power? (Read 456 times)

member
Activity: 172
Merit: 10
Seen this terminology a lot, but don't know what it means. Anyone care to explain?

Hey WaterPower! Here is a great article covering all the above terms: https://www.forbes.com/sites/learnvest/2017/04/01/everything-you-should-know-about-blockchain/amp/. Hope that helps!
sr. member
Activity: 546
Merit: 250
Bitcoin blocks are a set of data that includes a list of valid transactions, a header, and a proof-of-work.

Blockchain technology is a generic term to describe methods of using chained blocks of data connected with some resource to reach consensus in an distributed system.

Bitcoin hash power is a number representing the how many times a piece of equipment and software can calculate a SHA256 hash in a given amount of time.
Defined perfectly the three asked terms.

Seen this terminology a lot, but don't know what it means. Anyone care to explain?

Since you are a newbie you cant get this all so quickly. You should know what is bitcoin, how to earn bitcoins, howmuch is the profit, what are the legit ways to earn bitcoins..
The rest of the questions need time to understand. Yoi should work on bitcoins earning at this stage you should know which wallet is better and which faucets can give you more satoshis. I dont want yo disheart you by anymeans but those are the questions which you will know the answers yourself when you go deeply in crypto world.
legendary
Activity: 3472
Merit: 4794
Bitcoin blocks are a set of data that includes a list of valid transactions, a header, and a proof-of-work.

Blockchain technology is a generic term to describe methods of using chained blocks of data connected with some resource to reach consensus in an distributed system.

Bitcoin hash power is a number representing the how many times a piece of equipment and software can calculate a SHA256 hash in a given amount of time.
newbie
Activity: 17
Merit: 0
you'll get a clear picture of all related questions if you read this book 'Mastering Bitcoin' by Andreas Antonopoulos


This book is a fantastic intro to bitcoin and is available for free if you were looking for it https://github.com/bitcoinbook/bitcoinbook
jr. member
Activity: 59
Merit: 10
you'll get a clear picture of all related questions if you read this book 'Mastering Bitcoin' by Andreas Antonopoulos
newbie
Activity: 41
Merit: 0
Seen this terminology a lot, but don't know what it means. Anyone care to explain?
Jump to: