What Is A Blockchain

[roomboy85]

The blockchain is the list of records of all transaction in cryptocurrency world. This contains of blocks which is all transaction is written inside. This is the latest technology that help the community to record all important transaction and more company use this blochain.

[vaxton]

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.

thank you so much!

[CGPA]

Actually, Blockchain is a continuously growing list of records, Which is used to link and secure cryptography. A blockchain is a distributed database placed in non-secure environment that uses cryptographic methods to ensure that existing data cannot be tampered with.

[edjames]

I think of it like the departures and arrivals board at stations or airports. Each one is updated at the same time with information which is kept on blocks (ledgers, as in like accounting), with new information constantly being added to the board. This info is logged by nodes (systems that hold their own copy of the the ledger) all with the same departures and arrivals board.

Now apply that crypto coins, and you will see how it works. If someone buys or sells a coin, all the nodes are notified, make a note of the transaction, and the ledger is updated. This information grows and grows into a chain - a continually growing one.

[ZAYANDI]

Blockchain is the world's largest offering of digital block production platforms for digital assets. All the chain block systems have brought about revolutionary changes in the financial industry to transfer funds and make payments through bitcoin networks around the world for products and services offered from any part of the world and digital information is distributed but not copied, blockchain technology creates the backbone of a new type of internet . Originally designed for digital currencies, the Bitcoin technology community, (Bitcoin Buy) is now discovering other potential uses for technology and building a radically better financial system.

[anonerisero]

Currently I am storing in Coinbase, Blockchain.info and Unocoin. I dont have much. My next plan is store in Desktop wallet and Papper wallet. Now I am learning about it. I am not trusting 100% in online wallets.

[abonti]

yeh, bitcoin is a blockchain, but blockchain is not bitcoin. because of blockchain is the ledger that records transactions cryptocurrency.

[rockerzofIco]

A blockchain network can either be public or private based on who is authorised to participate. The essential difference between a public and private blockchain is that one operates in a decentralised open environment where there are no restrictions on the number of people joining the network, while the other operates within the confines defined by a controlling entity. A simple analogy is the difference between the Internet and the intranet. While the inherent technology for networked computers remains the same, there is a big difference between the dynamics and utility associated with a closed network (such as a home network) and an open network (such as the Internet).
In reality, this difference plays out based on how ‘nodes’ are incentive to remain a part of the network. The key idea here is that in a public blockchain, the consensus mechanism is based around rewarding each individual participant to remain a part of the network. In a private blockchain, the need for creating this incentive does not exist.

[Fawez]

Technically, it is a vast network of studded "nodes", formed by servers, which are as many voluntary participants in this system. This network constitutes a decentralised database: All transactions are recorded and accessible to the public. This is the case today for Bitcoin, and tomorrow for payment systems or even registrations in the cadastre. It is the computer servers of the participants that feed this database in computational power.

[bitcoinskyrocket09]

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

As for me, blockchain is the world's largest offering of digital block production platforms. All the chain block systems have brought about revolutionary changes in the financial industry to transfer funds. It also makes payment through bitcoin networks around the world. Hence, blockchain technology creates the backbone of a new type of internet in the world. It was also originally designed for digital currencies, the Bitcoin technology community.

[benhill]

Blockchain is where bitcoin and other cryptocurrencies exist. The blockchain is also used for other applications other than cryptocurrencies, such as running smart contracts,  In short, the blockchain is a digital ledger that is decentralized. It stores records of all transactions that occur within it and is run by a peer-to-peer network. This means that individuals and businesses use it to transfer digital assets to each other through the Internet.

[Kelampok ijo]

Studying blockchain at first will lead to a little confusion. Just like the beginning I studied blockchain is quite very confusing. 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 from 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.

[LadyCoin]

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 internet version 2.0 .. Blockchain technology consists of blocks that hold transactions, where each block is interconnected through cryptography, thus forming a network. Bitcoin is the first implementation of Blockchain technology. Most of the world of cryptocurrencies technologies such as Bitcoin rely on database forms with the advantage of being able to track large and secure transaction volumes.

[Griegura]

Blockchain is essentially a distributed and well-protected database. The whole thing is how this whole thing is organized.

[websing]

The BlockChain system is an integrated transaction logging technology with modern technology, which has a unique and irreversible code that revolutionizes the workings of the Internet, banking, and other things.

[Th3Program]

blockchain is a truly revolutionary, fundamentally different way of storing and transmitting information over the network, which has a lot of options for practical use.

[Husen Alikhsan]

A public ledger that can be accessed by the public. Blockchain shows all transaction data that has occurred in a bitcoin network. You can visit sites like blockchain. Info will make it easier for you to monitor what happens inside the blockchain bitcoin

[kingkongcorp]

blockchain is the place to record All Transactions People Already Do

[FeatherFan]

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 transaction data ever occuring within a bitcoin network. blockchain uses a decentralized system that enables efficiency. When a person buys a bitcoin coin, a computer system connected to a blockchain network will record and provide validity automatically. So that the minimum error, faster cheaper and easier. bitcoin itself is the first currency running on the network without the need for central intermediaries or publishers thanks to the decentralized blockchain

[Liternyy]

Imagine a table that has been duplicated thousands of times in a computer network. Then imagine that this network is designed in such a way that it regularly updates this table - and you already have a general idea of the blockbuster.