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Author Topic: Do you know what is a blockchain...?  (Read 411 times)
ClaraFowler44
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July 26, 2018, 02:57:22 PM
 #81

And more, Split ledgers allow simple contract coding to be executed when certain conditions are met. Ethereum is an open source blockchain project, built specifically to meet this requirement. However, in the early stages of development, Ethereum has the potential to take advantage of blockchain on a much larger scale like so much.

At the current level of technology development, smart contracts can be programmed to perform simple functions. For example, a derivative transaction may be settled when a financial instrument satisfies certain criteria, with the use of blockchain and Bitcoin technology that allows for automated payments, without human involvement or intermediary witness.
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99bitcoinerlover
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July 30, 2018, 11:14:16 PM
 #82

It is something in which all the transactions that happens goes through.
book1483
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July 30, 2018, 11:49:51 PM
 #83

It is something in which all the transactions that happens goes through.

The blockchain stores all the transactions, and groups them into blocks. Each block is linked(chained) together through hash functions.
That is why it is call blockchain.

Note that Satoshi Nakamoto does not use the term blockchain in his Bitcoin whitepaper at all. Blockchain is a term later given to the way Bitcoin transactions were being stored. This idea of linking data together through hash functions was first described in a paper from the early 90s. In fact this paper is one of Satoshi Nakamoto's sources he sites in his Bitcoin whitepaper.
Velkro
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July 31, 2018, 02:11:28 AM
 #84

blockchain technology
Technology that allows no central party to verify transactions. You need huge distributed calculated power to achieve that.
Most people forget that and talking about blockchain while its not it Cheesy

iwuwi12ueiei212
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July 31, 2018, 07:41:52 AM
 #85

I want to know whether what is a blockchain technology...? If you know, please explain as simple as possible.... 


As far as I know, blockchain is considered as a decentralized, peer-to-peer transaction. Using this technology, participants can transact without the need for a centralized authentication unit. Potential applications for blockchain applications are money transfer, trade, election, and more.
gjaoirlaj9865
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July 31, 2018, 09:20:37 AM
 #86

The blockchain is a ledger that records all transactions. Blockchain technology has many other uses where Bitcoin currency is just one of them. The blockchain technology platform allows strangers to trade safely without mutual trust.
In addition, blockchain technology opens up a potential application trend for many areas such as banking and finance, retail, transportation, manufacturing, telecommunications ...
ANNA_Systems
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July 31, 2018, 02:00:41 PM
 #87

Blockchain is a type of distributed ledger for maintaining a permanent and tamper-proof record of transactional data. A blockchain functions as a decentralized database that is managed by computers belonging to a peer-to-peer (P2P) network. Each of the computers in the distributed network maintains a copy of the ledger to prevent a single point of failure (SPOF) and all copies are updated and validated simultaneously.
bachsoi2799
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July 31, 2018, 03:41:58 PM
 #88

Blockchain is a public-registry technology that uses digital signatures and cryptographic hashes to provide records of secure transactions that can not be changed.
MileyPeardon
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August 01, 2018, 01:38:39 AM
 #89

I've found what is most useful is checking youtube videos to answer all your beginner questions. Smiley
smiledeveloper
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August 01, 2018, 04:14:58 AM
 #90

Hey,
In one word it just a wallet to hold bitcoin. It just a ledger where all transaction history stored of your bitcoin wallet.
teioaie9837
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August 02, 2018, 09:56:16 AM
 #91

You can understand Blockchain is a technology that allows secure data transmission based on extremely complex coding systems. The Blockchain system is divided into three categories:
-Public: Anyone has the right to read and write data on Blockchain. Authentication process on this blockchain requires thousands or tens of thousands of participants. Therefore, it is impossible to attack the Blockchain system because of its high cost.
-Private: The user is allowed to read the data, not write permission, because it belongs to the third party trusted.
-Permissioned: Also known as the Consortium, a form of Private but augmented with certain features, combining "trust" with public participation and "absolute trust" when joining Private.
gjaoirlaj9865
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August 02, 2018, 11:53:53 AM
 #92

The blockchain is the technology behind Bitcoin and allows digital money like Bitcoin to work. Blockchain specifically promotes its strength in managing and trading all types of online assets that are most commonly present in copper bitcoins.
Totodecaan120
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August 02, 2018, 12:30:33 PM
 #93

The blockchain is a technology that allows secure data transmission based on the encryption system. Blockchain possesses a very special feature that the transmission of data does not require an intermediary to confirm the information.
gfdsgwgklm
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August 02, 2018, 12:30:47 PM
 #94

Blockchain is a technology that securely transfers data based on a very complex coding system, similar to a company's accounting ledger, where cash is closely monitored.
To be more clear, you see the blockchain as a head of a large collective (such as an ecosystem consisting of many trees ..), which must be bound collectively.
kjfngkleoi
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August 02, 2018, 02:56:18 PM
 #95

Blockchain or the ledger, its original name is a blockchain, is a database system of information, which is used to store information in linked blocks, and is managed by Everyone participates in the system, instead of a separate third parties such as the state or the central bank; It also allows for secure data transmission with a complex encryption system, and is scalable over time.
bullfit
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August 02, 2018, 03:09:59 PM
 #96

It's a series of keys that record the entire set of keys
Yusuf_Jay
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August 02, 2018, 03:51:28 PM
 #97

Block and Chain, each of which has its own meaning. The chain is a unique chain record and is the flow of all consistent stages of an item/transaction. Block is a special place/ boundary/area to accommodate all changes in items/transactions that occur during the chain process.
michellebson2
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August 03, 2018, 07:18:07 AM
 #98

The blockchain is a technology that enables secure data transmission based on extremely complex coding systems. Blockchain owns a very special feature: data transfer does not require an intermediary to confirm the information
lamroinhau09
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August 03, 2018, 08:04:45 AM
 #99

The blockchain is an information database system used to store information in linked blocks and is managed by all participants in the system, not the third party such as the government or the bank. It also enables secure data transmission with a complex and extended encryption system over time.
acsaocham22
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August 03, 2018, 08:34:03 AM
 #100

All data on the Internet is easily copied. As we know, Bitcoin is just one application of Blockchain technology, meaning that each Bitcoin transaction is just one file.
Normally, when dealing online, we will need a third party that we trust (eg, intermediary, shipping company, bank ...) with a database set to verify the transaction to prevent fraud when the crooks use this file repeatedly.
Blockchain technology solves this problem without the need for a reliable third party.
The blockchain is a ledger that records all transactions
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