Bitcoin Forum

What is block chain?

Hi there I think that you are new:

A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography.Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

https://en.bitcoin.it/wiki/Block_chain

This is a “block chain”:

https://www.woodgears.ca/tracked_vehicle/track.jpg

This is a “blockchain”:

http://www.peerpointsolutions.com/wp-content/uploads/2015/11/How-Blockchain-works1.png

Try youtube.

Blockchain means decentralised ledger record where there will not be any centralized authority to moniter or to rule like our central Governments and companies which are operating right now.

This is hack proof and most secured due to underlying technology of cryptography

Blockchain is a very new technology. I explain to you is sure to be long and hard. I think you should find information online for full and accurate updates.

BLOCKCHAINis the world's leading software platform for digital assets. Offering the largest production blockchain platform in the world, we are using new technology to build a radically better financial system. Our software has powered over 100M transactions and empowered users in 140 countries across the globe to transact quickly and without costly intermediaries. We also offer tools for developers and real time transaction data for users to analyze the burgeoning digital economy.

Blockchain is a mechanism for the sequential development of logs (or blocks) that are interconnected and secured by encryption. Each log block will contain a hash code that reflects the data of the block before it, so that blockchain becomes a secure technology.

To visualize a blockchain like an accounting diary in digital, it is possible to actually execute transactions between two partners effectively. Blockchain is resistant to data changes when a blockchain chain is managed by a decentralized network, and when data has been written to a block it can not be changed without making a change. adjacent blocks. In other words, any data change requires the consent of the majority of the network.

Despite its apparent complexity, a blockchain is just another type of database for recording transactions - one that is copied to all of the computers in a participating network.

...wow, so awesome... tnx for the great platforms uv share... no words to say...

U r so great to share this...

blockchain is a new technology that is going to revolutionize payments, businesses, services and will help automate thousands of processes in an efficient and transparent manner, so blockchain is a game changer technology.

Hi i am also a newbie here.
Samething i want to know what is blockchain, now my question had already an answer after i read these, thank you for this detail and explanation it was very appreciated to me as a new member.

A Blockchain is a digital ledger in which transactions made in a cryptocurrency are recorded chronologically and publicly. It elliminates the need for a thrird party such as a bank to process transactions  and is much more secure because of the use of Cryptography when processing these transactions.

It's the future!  ;D

a blockchain is a database that is stored on multiple computers at the same time. New blocks in this chain-base are created all the time.  Each newly created block contains a group of recently accumulated and ordered records (transactions), as well as a header. When a block is formed, it is checked by other network members and then, if everyone agrees, connected to the end of the chain.

Block chain is the backbone of a new type of internet. 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.

You can know everything you want about block chain in this link https://www.investopedia.com/terms/b/blockchain.asp

i am also newbie here. Your pictorial diagram is easy to understand. I helps me alot. Thnz

I think that is not the definition of block-chain or this technology, we don't know if it will be backbone of new internet or replace existing technology but it has potential.

It is chain that consists of blocks that contain information about transactions in the network. Miners create this blocks and get reward- coins. There is no any servers, only usual users. If there is no users blockchain won't work.

Blockchain is a very new technology. I explain to you is sure to be long and hard. I think you should find information online for full and accurate updates.

Why don't you have a look at the following article - Blockchain easily explained in under 100 words!

https://www2.deloitte.com/ch/en/pages/strategy-operations/articles/blockchain-explained.html