Topic: What Is A Blockchain - page 10. (Read 1722 times)

I think the block chain is to link each individual in the industry with the block chain, which can make our work more efficient and make life more convenient.

Bitcoin is a blockchain. Blockchain is a digital ledger that is continuously growing list that called blocks. It records the transaction between two partie and recorded accordingly and publicly.

Born in 2009, Blockchain technology was created to remodel the circulation scheme. By the way, transactions between A and B can occur without intermediaries, in a shorter time, cheaper, and even much more secure, than transactions offered by banks or other similar institutions.


How can?

Blockchain is simply an online global database-one that can be used anywhere in the world connected to the internet. Unlike other databases that are usually owned by certain institutions such as banks or governments, Blockchain does not belong to anyone. Make it more transparent because it can be accessed by anyone.

Like the parent ledger in the bank that records all customer transactions, Blockchain also records all transactions the user performs. It's just that, if the parent book only can be seen and checked by the authorities in the bank, then all transactions through Blockchain can be seen by all users. Because the Blockchain information warehouse is permanently stored throughout the network of its users, because the information collected is also distributed to everyone.

So how do data sets of people-unattended third-party institutions-could be a safer place? The key, is the number of Blockchain users. The more users, the more difficult it is to hack.

The transactions that occur will be recorded by the users' computers at once announced for verification. The transaction records are then combined with other transaction records, then tied-or chained-in chronology. Records of the transaction are then called blocks. And that barrage of blocks is called Blockchain.

Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.[1] 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. Blockchains are secure by design and exemplify a distributed computing system with high. By design, a blockchain is inherently resistant to modification of the data.

Blockchain is a technology for storing record data or transaction data, and I think it can only be used online because bitcoin can only be accessed by internet.

From the software development point of view Blockchain is a hybrid of distributed p2p-like network and subversion-like logging system, based on strong cryptographic algorithms.

Blockchain is bitcoin’s underlying technology. A blockchain is a database that is distributed to be placed in a non-secure environment that existing data cannot be tampered with.  In the language of cryptocurrency, a block is a record of new transactions (that would mean the location of cryptocurrency, medical data or even voting records. Once each block is completed it’s added to the ever growing chain, creating a chain of blocks hence the term blockchain. Most blockchains are decentralized which means the miners that organize the block are not working as part of one institution.

The Blockchain is an incorruptible digital ledger of digital currency transaction. This Hosted by millions of computer simultaneously and that allow to access anyone in the Internet. Also this haven't centralized version. Hence thin cannot have controlled by any single entity or single point failure. Publicly can access many people at the same time.it kind of a shared ledger. One of the main advantage is that Blockchain able to cut out the middleman from their transaction. Blockchain security methods use encryption technology. That are called public and private keys. Public key is a user address on the Blockchain and private key is the access key of their digital assets.

Thanks

The blockchain is a public ledger where every bitcoin transaction is recorded. The ledger is maintained by a network of communicating computers running bitcoin software. It operates without any central authority.

Blockchain is a digital ledger in which transaction are made in bitcoin or another cryptocurrencies are recorded chronologically and publicly.

I think Blockchain is a decentralized ledger technology that uses cryptography to secure the data it stores.It is expected to bring a revolution in all industrial domains as it holds a promising future from computing as well as business aspects. It provides greater data security which has come of at most importance in this day and age.

A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. 

Blockchain is the technology being used to build bitcoin. The transaction being made is saved into their server and it is consist of multiple password so that it wont be that easy to tamper.

Blockchain is a system that does not use such third parties. In essence, records of transactions that have occurred, stored by many computers scattered in the network itself. So it would be harder to hack a system of hundreds or thousands of computers, and chances are small for all of those computers to be interrupted at the same time.

So if you for example pay for your coffee using Bitcoin (one of cryptocurrency), Bitcoin for the payment of the coffee is transferred from your Bitcoin address to your Bitcoin cafe address in peer-to-peer. And these transactions will be recorded on all the computers scattered in the Bitcoin network.
https://www.andryo.com/img/pembelian-kopi-dengan-bitcoin.jpg

Blockchain is the next generation of the internet as we know it… It’s a technology that has many applications and holds vast promise for every business, society and individual person. blockchain consists of concatenated blocks of transactions that allow the person to share digital ledger across a network of computers without the need of central authority. No single organization or party have the authority to tamper with your transaction records.

Blockchain is essentially the backbone of the structure of bitcoin. Like internet to email and blockchain hold the transaction information in a ledger and shared to peer to peer computer. Here's a video to know the blockchain easily : https://www.facebook.com/playgroundenglish/videos/639491673050833/ Credit to owner: Playground+ facebook page.

Blockchain for me is the next generation of the internet as we know it and Blockchain worldwide online database which anyone anywhere with an internet connection can use it is "decentralized", meaning the blockchain ledger is shared among all computers around the world, not in one central location.

It is hard to explain and to understand for the newcomers what the right mening of blockchain.
But blockchain is an indefinite digital ledger of economic transactions that can be programmed to record not only financial transactions but most of the value. Its truly a mechanism to bring everyone to the highest degree of accountability

bitcoin is a blockchain . but blockchain is not bitcoin.. blockchain is bitcoins underlying technology but the  technology  itself has g8 value.the first reason is dat wid blockchain technology  being born the bitcoin. Blockchain is A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority.

Blockchain is A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority.