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Author Topic: Do you know what is a blockchain...?  (Read 417 times)
macarong998
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August 03, 2018, 08:56:30 AM
 #101

Blockchain technology is similar to a database, just different in interacting with a database. To understand blockchain, it is important to understand the following five definitions: block chaining, distributed consensus mechanisms, reliable computing, intelligent contracts, and work proof. This computational model is the basis for creating distributed applications.
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draacubile328
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August 03, 2018, 09:28:41 AM
 #102

Technically, blockchain provides a hierarchical data called "digital ledger" and uses encryption technologies. Everyone can see their transactions. This network is basically a series of computers that all have to approve a transaction before it can be validated and recorded. It's like sending a letter and everyone confirms the letter is yours. Your letter will be sent to various computers and confirmed, the contents of the letter will be scattered and re-entered into a matching string.
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August 03, 2018, 09:33:46 AM
 #103

In a very simple language: It is a kind of data structure which stores information about crypto transaction.
shade jenn
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August 03, 2018, 11:44:52 AM
 #104

Blockchain is one technology that does not use third parties in the data exchange process or in the transaction process.

The example is, if you buy something in the store by using a debit card, the third parties here are banks that connecting the buyers and sellers in the transaction using the debit card. But in the bitcoin, seller and buyer can be directly connected without third parties assistance.
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August 03, 2018, 07:57:47 PM
 #105

I want to know whether what is a blockchain technology...? If you know, please explain as simple as possible.... 
A blockchain is a digital and decentralized accounting that records all transactions. Whenever someone buys digital coins on a decentralized exchange the registry registers this transaction to protect it from hackers.

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