What Is A Blockchain

[ETHtotheMOON1]

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 consisting of blocks. Everyone can see what is inside the blocks, therefore it's completely transparent. It's the main technology behind the bitcoin currency.

[jone sonie]

Bitcoin depends on a distributed ledger system known as the blockchain. The blockchain is possibly the most powerful innovation associated with Bitcoin, as count less industries from financial services to healthcare have begun contemplating how to leverage the technology for their own uses. So it’s worth asking. What is a blockchain?

[Mr.Binss]

Blockchain is a shared immutable ledger for recording the history of transactions. A business blockchain, such as IBM Blockchain and the Linux Foundation’s Hyperledger Project, provides a permissioned network with known identities. And unlike Bitcoin, there is no need for cryptocurrency exchange.

[Elizabesth]

A feature of a blockchain database is that is has a history of itself. Because of this, they are often called immutable. In other words, it would be a huge effort to change an entry in the database, because it would require changing all of the data that comes afterwards, on every single node. In this way, it is more a system of record than a database. 

[Alyssaff]

I like Blockchain Technology, but nowadays technology need speed,less power consumption,less hardware cost,security. but i dont know about speed of Blockchain and hardware cost is too high and power consumption also too high. so really Blockchain Technology will grow in future?

[Gracefs]

Bitcoin is a decentralized, public ledger. This ledger is known as a blockchain. 

[Nerman]

Many have posted great explanation what blockchain is but this questiin have been asked a hundred tines in the forum.  You should have search it here or You know you can also put what you ask in google and there will ne an instant answer. Also there will be videos from youtube what blockchain is.

[Sarahhd]

Bitcoin is a great example of Blockchain. But there is one challenge. Bitcoins worth 500 and 70 million dollars were stolen from Mt.Gox and Bitfinex. The money was never traced and the criminals not caught. No Blockchain expert has been able to answer this, so far as i know.

[davison2]

A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network.

[zhuiyongliang8]

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

Block chain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. The so-called consensus mechanism is a mathematical algorithm for building trust and obtaining equity between different nodes in the block chain system.

[zhanghoqi5]

The block chain originates from the bitcoin of zhongbencong. As the underlying technology of bitcoin, it is essentially a decentralized database. It refers to the technical solution of collective maintenance of a reliable database through decentralization and trust.

[Ocha Bacoh]

Blockchain was first implemented in 2009, and was revolutionized with Blockchain 2.0 in 2014. Blockchain technology consists of blocks that hold transactions, where each block is interconnected through cryptography, thus forming a network.

Along with the development of digital universe, cryptocurreny in the future has become an increasingly attractive proposition in the market and may not have traditional banking infrastructure. Some developing countries in the world have even implemented a Blockchain-based national currency, such as Bitcoin, and the technology is also used by several large charity projects to help those without bank accounts.

Blockchain also has the potential to be used outside the scope of digital currency, and attracts the interest of many traditional financial institutions to adopt.

[soulripper]

In my knowledge, Blockchain is a list of ever-growing records and called as blocks. It is associated and secured using cryptography. Each block is usually contained in previous block cryptographic hash, timestamp and transaction data that have been made previously. By design, the blockchain is actually resistant to data modifications. It is open led logging and has the ability to record transactions between two parties agile in a verifiable and permanent way.

[websing]

a public ledger that can be accessed by the public. shows all transaction data that ever happened in bitcoin network

[wilmot]

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.

[lehuong]

Blockchain is a new technology recently mentioned. If voted for the most outstanding new technology of the year in recent years it was invented in 2017, then surely blockchain and application to virtual currency, such as Bitcoin will be named.

[nanda1280]

BlockChain is an integrated transaction logging technology with modern technology, which has a unique, immutable code that revolutionizes the workings of the Internet, banking and other things. The development of Blockchain and Bitcoin Technology in Indonesia has started rapidly since 2015.

[kolbalish]

The Government or any organisation doesn't print digital currency like conventional currency.Each digital coins was created in a complex calculating system called mining.Every transaction of all crypto-currencies is monitored through a wide network connected to numerous computers spread around the world.And this broad network is called Blockchain.

[elwiswoodie]

a distributed ledger
data stored on the blockchain will be publicly accessible, and of course transparency is the main feature of this blockchain

[blacksnapper94]

Blockchain is a technology that records transactions that occur in bitchoin, this blockchain is a data structure that can not be changed only can be added only. Each data from blockchain is connected to each other where 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) distributed into bitcoin network. Each blockchain will be distributed to each computer connected to the network. In each addition data will be checked whether the data is valid or not that usually this process is called by mining or known in other term Proof of work.