Topic: What Is A Blockchain - page 11. (Read 1722 times)
Blockchain is a technology that securely transfers data based on a very complex coding system, similar to a company's accounting ledger, where cash is closely monitored.
The blockchain 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?“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
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.
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.
The blockchain is perhaps the main technological innovation of Bitcoin. Bitcoin isn’t regulated by a central authority. Instead, its users dictate and validate transactions when one person pays another for goods or services, eliminating the need for a third party to process or store payments. The completed transaction is publicly recorded into blocks and eventually into the blockchain, where it’s verified and relayed by other Bitcoin users. On average, a new block is appended to the blockchain every 10 minutes, through mining.
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.
Based on a research i have done the blockchain is a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
"we can actually have a look at the blockchain and see evidence of what's going on". And blockchain is being known by this days.
"we can actually have a look at the blockchain and see evidence of what's going on". And blockchain is being known by this days.
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.
in essence, the simple meaning of blockchain is the ledger that records all transactions of cryptocurrency.
Take Bitcoin's blockchain as an example. You can think of a blockchain as a Bitcoin public ledger. This account:
1. Stored on each Bitcoin node of the Internet, each node has a complete backup
2. It records all Bitcoin transfer transactions since the birth of Bitcoin.
3. The ledger is stored in partitioned blocks, each containing a portion of transaction records. Each block will record the id of the previous block, forming a chain structure, hence the blockchain
4. When you want to initiate a bitcoin transaction, simply broadcast the transaction information to the p2p network. The miner records your transaction information as a new block to the blockchain and the transaction is completed.
1. Stored on each Bitcoin node of the Internet, each node has a complete backup
2. It records all Bitcoin transfer transactions since the birth of Bitcoin.
3. The ledger is stored in partitioned blocks, each containing a portion of transaction records. Each block will record the id of the previous block, forming a chain structure, hence the blockchain
4. When you want to initiate a bitcoin transaction, simply broadcast the transaction information to the p2p network. The miner records your transaction information as a new block to the blockchain and the transaction is completed.
anything you need to start right here:
https://blockgeeks.com/guides/what-is-blockchain-technology/
https://blockgeeks.com/guides/what-is-blockchain-technology/
Hello, I am not so familiar with blockchain at first. So I research what is Blockchain. "By design, the blockchain is a decentralized technology. 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 distributed database. Essentially, blockchain is a trust mechanism that is reconstructed using distributed technologies and consensus algorithms. The blockchain can be simply understood as a transaction book maintained by all participants. The disclosure of the account information enables all participants to verify the correctness of the transaction and the billing together, making the account book's ability to prevent malicious tampering. All participants can trust the carrier.
Hey guyz
I am complete noob in crypto. I need to know what is a blockchain? How to use it and what if it goes offline? What affects it will occur on bitcoin.
I have tried understanding it but it looks very complex There may be a simpler way to understand it guys
Thanks for the help
First of all, welcome here in the forum. Since you are a Newbie and it seems like you really don't have any idea what world you are entering. I suggest you to make research first so that you can be able to explore and gain knowledge for what is this "Crypto world" all about. You should conduct research for basic informations before you fully participate here. You know, some members here really hate "spoon feeding" Members/Newbies that always ask and didn't even can spend some time to make research by themselves. But I'm not scaring you, and please no offence, I'm always willing to help Newbies and I'm giving you some tips. You should also visit the Beginners&Help Section. Here is the link https://bitcointalk.org/index.php?board=39.0I am complete noob in crypto. I need to know what is a blockchain? How to use it and what if it goes offline? What affects it will occur on bitcoin.
I have tried understanding it but it looks very complex There may be a simpler way to understand it guys
Thanks for the help
About your question "What is blockchain".
Well according to Wikipedia, "blockchain" originally is from the word "block" and "chain" (obviously), is a continuously growing list of records which is called "blocks" which are linked and secured using cryptography. Blockchain was invented by Satoshi Nakamoto (the creator of BTCitcoin) back in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.
Resource: https://en.m.wikipedia.org/wiki/Blockchain
Blockchain (of bitcoin for example) is open database based on cryptography which may be seen and copied by anyone but may be created by miners with privat key owners only. It contains all done transactions, has huge amount of copies around the world so can not be deleted or subsituted
Essentially, it's a continuously growing list of records, called blocks, which are linked and secured using cryptography. It would take a huge amount of computing power to override the entire network.
If I think BlockChain is an integrated transaction logging technology with modern technology, which has a unique code that can not be changed (immutable) that revolutionize the workings of the internet, banking and other things. ... The development of Blockchain and Bitcoin Technology in Indonesia has started rapidly since 2015.
To say that blockchain can't avoid Bitcoin, of course, the reason why Bitcoin needs to be talked about: The first reason is that with blockchain technology being born with Bitcoin, it can be said that without Bitcoin, blockchain technology may be much later. Many years may or may not happen. Second, Bitcoin is the most successful and most mature example of industrialization of blockchain technology. Of course, it is not suitable for all scenarios because it is only a digital currency type. Public chain. Because it is the earliest and most mature digital currency public chain, it is likely to play the role of Internet basic currency in the future.
A blockchain is a distributed database (system) placed in a non-secure environment.
The blockchain uses cryptographic methods to ensure that existing data cannot be tampered with.
The blockchain uses consensus algorithms to reach consensus on new data.
The system with the above three properties is the blockchain.
The blockchain uses cryptographic methods to ensure that existing data cannot be tampered with.
The blockchain uses consensus algorithms to reach consensus on new data.
The system with the above three properties is the blockchain.
In a nutshell, the blockchain is a general ledger that records all historical transactions. Each block contains several transaction records. If the blockchain is a book, then the block is every page of the book. The details of the transaction are recorded on a public account that can be seen by anyone on the network.
The blockchain is known for being the underlying technology of bitcoin, but the technology itself has great value!
The essence of blockchain is the reconstruction of credit system.
The essence of blockchain is the reconstruction of credit system.
Hey guyz
I am complete noob in crypto. I need to know what is a blockchain? How to use it and what if it goes offline? What affects it will occur on bitcoin.
I have tried understanding it but it looks very complex There may be a simpler way to understand it guys
Thanks for the help
I am complete noob in crypto. I need to know what is a blockchain? How to use it and what if it goes offline? What affects it will occur on bitcoin.
I have tried understanding it but it looks very complex There may be a simpler way to understand it guys
Thanks for the help
Bitcoin is a blockchain, but blockchain is not Bitcoin. Blockchain is Bitcoin's underlying technology. A blockchain is a distributed database placed in a non-secure environment that uses cryptographic methods to ensure that existing data cannot be tampered with. And consensus algorithms are used to reach consensus on new data.
Essentially, it's a continuously growing list of records, called blocks, which are linked and secured using cryptography. It would take a huge amount of computing power to override the entire network.
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