A (bitcoin) blockchain is a database where you can rely on the records/entries to be legitimate since falsifying them is expensive and requires consensus. The older an a entry is, the more expensive it becomes to manipulate it.
In a traditional database, the records can be manipulated by the administrator of the database at will.
As you can imagine, for a currency system where no one should be in control, we can't use a traditional database where someone has admin access. We use a blockchain.
Topic: What Is A Blockchain - page 7. (Read 1680 times)
Blockchain (with mining) is a decentralised concensus system. In the real world I can give you something and you would own it. But on the internet this is not so easy - you could just copy the information and we'd both own it.
Bitcoin solves this problem by mining - a lot of energy is put in creating a "thread" of blocks (called the blockchain) that prevent you from creating false ownership.
It's a really boring form of digital gold.
Blockchain Technology is a buzzword used by companies who don't understand what it is. They think they can take the mining part and the decentral part out of it. You can, but you'd just get a plain old SQL/Oracle database.
Bitcoin solves this problem by mining - a lot of energy is put in creating a "thread" of blocks (called the blockchain) that prevent you from creating false ownership.
It's a really boring form of digital gold.
Blockchain Technology is a buzzword used by companies who don't understand what it is. They think they can take the mining part and the decentral part out of it. You can, but you'd just get a plain old SQL/Oracle database.
Its a common technology for storing databases decetralized.
All information stores in blocks, all blocks cryptographicly secured
All information stores in blocks, all blocks cryptographicly secured
What is blockhain? The underlying technology of cryptocurrencies, is less mysterious today than it was six months ago, but the question, what is blockchain, is yet to be satisfactorily answered. How does it work and what will be its impact? What can I do to turn it into a business ally? Since blockchain and cryptocurrencies work on the basis of customer anonymity, many have natural apprehensions, since identity is central to financial services. You can watch this https://m.youtube.com/watch?v=SSo_EIwHSd4
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.
With this blockchain every transaction of bitcoin is stored in an Open Ledger (Ledger) which is distributed into bitcoin networks. Each blockchain will be distributed to each computer connected to the network. In each addition of data there will be check whether the data is valid or not which is usually called mining process or known in other term Proof of work.
There are several elements in the blockchain that is Hash, Block & Proof of work data. Here we discuss one by one
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.
With this blockchain every transaction of bitcoin is stored in an Open Ledger (Ledger) which is distributed into bitcoin networks. Each blockchain will be distributed to each computer connected to the network. In each addition of data there will be check whether the data is valid or not which is usually called mining process or known in other term Proof of work.
There are several elements in the blockchain that is Hash, Block & Proof of work data. Here we discuss one by one
Blockchain is a public register in which transactions between two users belonging to the same network are stored in a secure, verifiable and permanent way. The data relating to the exchanges are saved inside cryptographic blocks, connected in a hierarchical manner to each other. This creates an endless chain of data blocks — hence the name blockchain — that allows you to trace and verify all the transactions you have ever made.
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
Blockchain is improved and develped by Satoshi Nakamoto, it is the underlying technology of bitcoin. Basically each certain block is connected with one another each connected sides are encrypted called "hash" the hash is dependent to the previous hash so changing the other one will also affect the connected blocks which makes the blockchain tampered proof or impossible to hack, bitcoin uses this technology as a ledger, different computers around the world are making this technology works, when a computer makes a process it has to validate by all of the computers that connected to the network and if its validated it will be added to the blockchain
Blockchain is coin'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.
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
BLOCKCHAIN is a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly. You cannot use it when your offline because blockchain flow through internet. Blockchain is like receipt record all what we do on crypto.
- Bitcoin is dependent on blockchain the underlies and structures the system. The blockchain is vertebrea of the protocol and the glue that holds the network together.
- A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.
- A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.
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
Blockchain is a public ledger that can be accessed by the public. Blockchain shows all the transaction data that ever happened inside the Bitcoin network. You can visit sites like blockchain.info which will make it easier for you to monitor what's going on inside the Bitcoin blockchain. 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
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
Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger(like in accounting, used as a list of all transactions). 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. Block chain tells how, when and where bitcoin is used.
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
My opinion, blockchain is like traditional ledger and the transaction put on block. Blockchain require internet connection because the data spread around the world and I think its not run on offline
well i can explain giving you example which can related of transfer of money .suppose a guy wants to transfer money from USA TO Australia if he uses bank it creates middle man and it may take time also. what blockchain does is that you can transfer from one person to another with out middle man and its faster than bank . its peer to peer thing. once you put a data in blockchain you can never remove it and every one can see how much money you have transfer from person to another
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
this will be useful forever.
A good explanation of Blockchain - http://www.ccreview.com/technology/what-is-blockchain/
Blockchain is a recording system or database that is widespread in the network.
BlockChain is a transaction logging technology integrated with modern technology as well as general ledgers that can be accessed by the public. Blockchain also shows all the transaction data that has occurred inside the Bitcoin network.
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
The blockchain used to be used mainly in bitcoins, and in the last six months, the blockchain has gradually started to have some other applications, especially in the financial sector.
Blockchain technology refers to a way for people to participate in bookkeeping. All systems have a database behind it, and you can view the database as a big ledger.
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