What is blockchain? How blockchain work?

[saiha]

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

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/

[BADecker]

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

[fritzdark]

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.

[Wandering Soul~]

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

[red4slash]

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

[nealvanessa990]

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

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)

[dothebeats]

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.

[hajimasan]

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

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

[Kprawn]

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

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?

[rajasumi3]

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.

[ReLieD]

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

[franky1]

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.

[Digitalbitcoin]

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.

[franky1]

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

[pvaspecialist]

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.

[AgentofCoin]

...
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..
...

By your definition, the blockchain may have been invented in 1991 or even prior.
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.

[franky1]

...
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..
...

By your definition, the blockchain may have been invented in 1991 or even prior.
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

[Digitalbitcoin]

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

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.

[franky1]

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

[AgentofCoin]

...
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..
...

By your definition, the blockchain may have been invented in 1991 or even prior.
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.  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.