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Author Topic: How would you define the BLOCKCHAIN?  (Read 100 times)
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July 18, 2018, 02:36:42 PM
 #21

What is you own favorite definition or explanation?
my simple definition of blockchain is distributed public ledger
that three words definition should be easily enough to understand and represent blockchain
if someone wants to know more about blockchain then he needs to read the underlying system
below is blockchain definition found on wiki

Block chain
A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol.

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July 18, 2018, 03:44:01 PM
 #22

Simple words - Blockchain is a database. In the world of crypto, this term refers to the place where the information is stored. Blockchaine is often referred to as a distributed database where all the records we have inserted are stored forever. Data is stored in separate storage units called "block". These blocks are included in the string one after the other, therefore "chain". The database is protected by encryption so it guarantees the security of information. I do not write the exact definition, everyone can find it from Wikipedia.
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July 18, 2018, 06:16:57 PM
 #23

The blockchain is a technology of storage and transmission of information, transparent, secure, and functioning without a central control body.

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July 20, 2018, 09:20:41 AM
 #24

I think the blockchain is like a pizza, wrapped in a variety of foods that can be shared for everyone to eat at the same time!
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July 21, 2018, 11:10:11 AM
 #25

Blockchain is a digital ledger and commonly known as the database. It is a ledger because it records all transaction that are happening inside bitcoin system it is recorded publicly and chronologically. It is also known as database because this is the place where data or information are being stored. It is secured by cryptograph. Most of the business use blockchain technology. It is very appilicable in storing information more secured and precised.

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