Bitcoin Forum

What is blockchain? How blockchain work? or Can someone share the link to explain these?

This article is a good read.  https://www.toptal.com/bitcoin/blockchain-technology-powering-bitcoin
Your welcome. :D

https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&uact=8&ved=0ahUKEwirlZuzz-jNAhXBpY8KHb_SBbUQFggkMAI&url=https%3A%2F%2Fbitcoin.org%2Fen%2Fhow-it-works&usg=AFQjCNGeifAZydT5u6bqtH1nzSlWNz2E1Q&sig2=Quo8tLJk5tUgG-yhDtho4w&bvm=bv.126130881,d.c2I

Blockchain is like you online bank. There are many so called banks in here and blockchain is just one of them. While real banks use cards or books or cheque, this things use "addresses" as a way of withdrawal or depositing. It has a good security protocol so you don't need to worry on what you would store to it. That is for blockchain. Others have different security protocols.

Blockchain is like a bank were you can put your bitcoins with wallet address were you can keep it there.
or in some other meaning its like a data structure that makes it possible to create a digital ledger of transactions.
Also blockchain works if you sign up first for you to have a chance to log in and then you can get wallet address were you can hold your coins. ;)




 A

The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.

You can read the full article here https://bitcoin.org/en/how-it-works

and the view of bitcoin block-chain here (block explorer) https://blockchain.info/

Nice explanation.

I will simplify it for you .... Take all the transactions that are being done on this network and put it online for everyone to see. Every transaction link to the next in a big chain and this chain can be

traced back to the first transaction ever made. {called the Genesis block} Nobody can delete any transaction, because it forms one giant chain or record of transactions that are stored on 1000's of

nodes around the world. All this is done, without the use of banks...  ;)

In my own little way since I use block chain as my wallet, I will say its a virtual deposit box where you deposit your Bitcoin like a savings account and generate new addresses to receive money as you use different deposit slips like a conventional bank into that same savings account. Then when you need your money, you withdraw just like any other bank and there are some security measures put in place to protect your savings. However, you Dont receive alerts on your account as the banks but you have to log in to confirm what has been sent... My 2 cents...

Not a single reference is present into the Bitcoin White paper: it talks about blocks but not about a blockchain.

A blockchain is as simple as it seems a BLOCK CHAIN.

Every new block is attached to the preceding block thus creating a blockchain.

Is that difficult? I can't make it easier  ;D

Blockchain is the heart of Bitcoin.

Anything else you hear about blockchain is a scam.

The whitepaper talks about blocks and talks about chains, and never puts the words together.
But Satoshi does talk about the "proof-of-work chain" in the paper, which is the blockchain.


This is my definition of a blockchain:

"A blockchain is a system to ensure validation of data throughout a public untrusted distributed ledger,
which is incentivized and secured through the process of mining."

blockchain is a type of line bank where you can put your bitcoin safely. in real band we need chick and ATM card or visa card. but blockchain do not need these this. it just need your add and you can access your account.

Yeah... it isn't any of that.
So many things wrong with your answer.

Blockchain (tm) coin is also a cryto-currency:

https://bitcointalk.org/index.php?topic=1437856.0

Yes, true. I was simply referring to the exact term "blockchain". It says what you noticed indeed but the word that today is becoming a huge hype was never mentioned that way inside the paper.

 ;)

According to this site http://blogs.wsj.com/cio/2016/02/02/cio-explainer-what-is-blockchain/

I will qoute it

" Known by many as the technology underpinning the bitcoin digital currency, blockchain has acquired a new identity in the enterprise. At a time when companies face new challenges in data management and security, it’s emerging as a way to let companies make and verify transactions on a network instantaneously without a central authority. "

"A blockchain is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers. It uses cryptography to allow each participant on the network to manipulate the ledger in a secure way without the need for a central authority."

Well just read the detailed things in that article. Hope this helps.

What is Blockchain Technology? A step-by-step guide than anyone can understand

http://blockgeeks.com/guides/what-is-blockchain-technology-a-step-by-step-guide-than-anyone-can-understand/


Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

Information held on a blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

To go in deeper with the google spreadsheet analogy I would like you to read this piece from a blockchain specialist.

Blockchain as Google Docs
 

“The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to make revisions to it. The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes, because you are locked out of editing it until the other person is done with it. That’s how databases work today. Two owners can’t be messing with the same record at once.That’s how banks maintain money balances and transfers; they briefly lock access (or decrease the balance) while they make a transfer, then update the other side, then re-open access (or update again).With Google Docs (or Google Sheets), both parties have access to the same document at the same time, and the single version of that document is always visible to both of them. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.

Imagine the number of legal documents that should be used that way. Instead of passing them to each other, losing track of versions, and not being in sync with the other version, why can’t *all* business documents become shared instead of transferred back and forth? So many types of legal contracts would be ideal for that kind of workflow.

You don’t need a blockchain to share documents, but the shared documents analogy is a powerful one.”

That above website does not even mention mining or consensus algorithms.
This site tried to explain the "innovation of the blockchain" without explaining how Satoshi made it function.

A blockchain is the "proof-of-work chain" that Satoshi stated in the whitepaper.
A blockchain is not just a distributed editable ledger, but also mining and tokens.

There are a lot of definition of blockchain. But for me, Blockchain is a simply online wallet and the technology of it was being used by bitcoin and its called the blockchain technology for the transactions.

But you can just simply this great article for the explanation of what blockchain really is.

http://blogs.wsj.com/cio/2016/02/02/cio-explainer-what-is-blockchain/

Once all the bitcoins have been mined, it will be only a chain. Not a blockchain.

8)

hello there! well, Blockchain is like you online bank. There are many so called banks in here and blockchain is just one of them. While real banks use cards or books or cheque, this things use "addresses" as a way of withdrawal or depositing. It has a good security protocol so you don't need to worry on what you would store to it.

To put it simply, blockchain is like a record book where it contains all of the transactions that occurred.  Every transaction is represented as a "Block" . After that, the miners will collect and verify the block.  When they finished verifying/confirming the transaction, the block will be added to the chain.

It is called blockchain because it is a chain of blocks.

If you want to learn more about it, I found a good article for you:

https://medium.com/@micheledaliessi/how-does-the-blockchain-work-98c8cd01d2ae

blockchain bitcoin is a place where you can store and send bitcoin to other users via the blockchain. of course with the shipping fee..

A blockchain is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers. It uses cryptography to allow each participant on the network to manipulate the ledger in a secure way without the need for a central authority.more details see:
https://blockchain.info/wallet/bitcoin-faq
https://en.wikipedia.org/wiki/Blockchain_(database)

The blockchain is a decentralized public ledger in which everyone in the world could view the transactions that happened in the bitcoin network since its inception. In this particular public ledger miners arrange and process the transaction being placed in the blocks of data on the network. And, also, the chain in which the most miners follows or works to is the chain that would be valid and would be followed by all the bitcoin clients in the world.

it is online wallet and use to send and receive your bitcoin .
and i think you can clear all the confusion from the below link .
http://www.google.co.in/url?q=https://www.quora.com/How-does-Bitcoin-Blockchain-work-and-what-are-the-rules-behind-it&sa=U&ved=0ahUKEwjb2J7Y6qXQAhVDQSYKHd4ZDEoQFggaMAM&usg=AFQjCNGkD_Rgu-nMPnjqDQwYYP5nKHPsAw

No you are confusing Blockchain.info with the Blockchain.  ::) ... Blockchain.info is the wallet provider, but it just adds a graphical interface

to the tx's you make. { It links the Blockchain to a App, to make it easier for people... who are not that technical incline } Have you even

read the link you have posted?

Blockchain is totally like a bank .but here in blockchain u can see how many people have how many bitcoins .well u dont know who s that person but u see it .u can see all the transactions here in blockchain.

Blockchain is an app which acts as a wallet for bitcoins. You can store you bitcoins in that. You just have to make a account then submit you Wallet address to bitcoin . Then you will receive your payment there. Thanks

seems nearly everyone has got it all wrong
only 'Karartma1' got closest to the explanation

blockchain is simple

its a block of data chained to another block of data.
its that simple

what the data is, is meaningless
what format the data is, is meaningless
how the data is chained is meaningless..

EG PoS or PoW are both forms of blockchain chaining. so saying it needs PoW as a prerequisite is not true.
it could be just hashed using md5 it does not need to be Sha256
it could be done using signatures or even a different way altogether

as for the data, this does not need to be financial transactions. it could be domain data, such as namecoin uses
it could be identity data.

what makes bitcoin unique are what satoshi decided to do as extra layers to make bitcoin unique.
when satoshi talked about blockchain in the BITCOIN whitepaper he was concentrating on BITCOINS utility of it

trying to say a blockchain needs bitcoin pre-requisites is then just simply trying to confuse blockchain with bitcoin.
bitcoin is way beyond just 'blockchain' in many many ways.

others are playing around with blockchain by choosing different options. EG name coin stores domain name data.
other coins are using PoS others are using PoA.

some are closed service/private chains where only a handful/select few have full access.. while others are completely publicly

some are distributed to thousands some to only a few dozen

the options are endless but the pre-requisites are not set.

I read most of all views everyone mentioned about blockchain. But no one clearly mentioned.

I am not genius, but what I understand about bitcoin development is as below...

Bitcoin is made up with combination of blockchain and cryptography. Basically blockchain and cryptography both are man made things with quantum physics. But Satoshi Nakamoto is the person who brings them together to make invention of Bitcoin.

Now few words about about Blockchain and cryptography

What is Blockchain ?

Blockchain : We can divide it into block+chain. These blocks are made up of mathematical formulation which have to solve with computing power. And after solving these blocks which are made of encrypted non reversible data storage. So in short word we can say Blockchain means non reversible data storage with encryption. In blockchain each block have certain data which is connected to each one and can be used to access encrypted data anytime.

Cryptography : Crypto is the main word which means the art of writing or solving codes. Now it has many types of writing code while solving blocks with help of various algorithms.

While miner solve block with using specific computing power with solo or pool mining they receive rewards for there contribution. But this rewards is vary an depends upon many factors. Such as block height, block difficulty, block reward, time taken to solve 1 block, maturity of block, total contributing power etc.

the bit in red is wrong
thats BITCOINS blockchain.

you will find that there are other blockchains that are chained together in other ways.

a block is just a clump/cluster/group of data put in a lump.
how its recognised as a block
how its secured
if its locked to be immutable or linked but editable
are all optional.

bitcoin however chose to go for the immutable route with using sha256 hashing to recognise a block.. and then PoW hashing using Sha256 and a target pattern to achieve to secure (double lock) the block data to a way that becomes hard to break

EG a block of data can be signed using a keypair. and then signed by several keypairs.
it can be made editable only by those keypairs.

immutability is not actually a default requirement of blockchain. but their are obvious advantages of those using blockchains to want immutability if the data is to be made public

bit in blue is also incorrect
some blockchains can release all the circulation at genesis and then choose to demurrage(tax) the funds if they dont move. some blockchains dont even have to contain any financial "coins" at all. it may just be identity data or domain name data

A blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as 'completed' blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order.

The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender.

By your definition, the blockchain may have been invented in 1991 or even prior.
https://www.anf.es/pdf/Haber_Stornetta.pdf (https://www.anf.es/pdf/Haber_Stornetta.pdf)

If it is just a simple chaining of data that cites the prior data, then blockchain is
just another way to saying "time-stamping".

I think the "blockchain" as Satoshi described it is more than "time-stamping".
By using your definition, than Satoshi did not invent or improve the blockchain.

you are correct in both respects
bitcoin
EMPHASIS
BITCOIN
is a patchwork of atleast 10 different concepts brought together in a unique and beautiful fashion.
its then bitcoin that became the example of how these older concepts can be used.

bitcoins blockchain is definitely more then just timestamping data. it uses other concepts to secure it and make it a unique way to make BITCOINS data immutable to be able to be made public.

but blockchain
EMPHASIS
BLOCKCHAIN
doesnt require all of bitcoins 'features' just to be a blockchain

yes blockain is an old invention and as those cypherpunks of yesteryear know that there were issues they couldnt solve to allow a blockchain to be totally public and decentralized until satoshi added his patchwork of multiple concepts to bring bitcoin into existence.

and that bombshell expanded peoples minds forwards.. and backwards

I agree with you.

I just have elaborate its at normal level to understand newbie bit more about how processes of bitcoin or any altcoin work to finalize block and distribute rewards.

yea this forum is about bitcoin so most will talk about blockchain in the context of bitcoins unique utility of a blockchain. but its still worth noting that blockchain is not strictly a bitcoin thing. however bitcoin does use blockchain and things like PoW in a unique way that is/was a mindblowing concept in 2009

I agree.  I just think calling it a "blockchain" should only apply to Bitcoin (and other like
cryptocurrency), since the Bitcoin Community created the term "blockchain" to describe the
Bitcoin's system of mining and block building.

Prior to Bitcoin and the Bitcoin blockchain, it would be considered "chain-stamping" or
"stampchains" or whatever. Only now that "blockchain" is an established term, do we now go
back and incorporate older works and change the "blockchain" definition so that those fit as well.

For example, I believe you need an incentivized token for a "blockchain" to work properly.
I believe that the secret to Bitcoin's success is that the token, the chain, and mining is the
same entity just represented in different ways. So, in that way, bitcoin = miners = blockchain,
so prior work or simpler systems such as what I linked to prior, are not blockchains, IMO.

This is why, IMO, a term "blockchain" should only be used in the context of Bitcoin.
The blockchain is the token and the miners, not just a chained ledger.

In my definition of "blockchain", the "blockchain" is something much larger,
it is like a full self-reinforcing system, like a stool on three legs.

um nah
im my definition.
bitcoin is a patchwork of atleast 10 concepts.
by saying a blockchain has to be only about bitcoin. then there becomes no need to call it blockchain. you would just call it bitcoin

like a stool. you wont need to talk about a stool leg and why having stool legs set at a certain angle and pieced together with a seat, with interconnecting footrest which reinforces the legs. and then a covering of paint and gloss makes it important. you would just say here is a stool.

atleast separating the word leg. you can then say stool X has 3 legs at a slight diagonal angle or another stool has 4 vertical legs. or the legs are made of steel instead of wood. you can then explain why one stool is better than another stool

p.s
stool.. is something you find in the toilet before you flush :D so be careful when trying to have 2 things meaning one thing.

because if 2 things mean one thing.. then it gets confusing when asking someone if they want to see the stool you put on your kitchen floor

My point is, that in my view, you can not have a successful blockchain without an incentivized token.
Of course, you can remove the token technically, but that blockchain system will fail.

I think the token, the miner, and the blockchain is actually the same thing.
You can separate them so that people understand, but Bitcoin only works because all 3 is actually 1.
Those three parts combine to create a single entity, Bitcoin.
If you remove one of the parts, the system can not properly function as intended.

Blockchains that do not use incentivization or mining, IMO, will never work long term.
Blockchains are not necessary or efficient when doing things other than what Bitcoin does.

PS. Yes, stool can either be a chair or a fecal sample, in english. Lol
I meant a three legged chair.

After reading all the comments above, my conclusions is blockchain is an important technology behind bitcoin. Blockchain is doesn't have a secret data for public. It can be seen by everyone.
Blockchain can be a technology that secure the government system.
If someday bitcoin getting crash, another crypto currencies can replace bitcoin's place with the same technology, blockchain.