Bitcoin Forum
May 09, 2024, 12:28:37 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Newbie query  (Read 335 times)
MegUsta
Newbie
*
Offline Offline

Activity: 24
Merit: 0


View Profile
September 01, 2018, 06:56:44 PM
 #21

Blockchain is a digitized, decentralized, and the public ledger of all cryptocurrency transactions. It is constantly growing as "completed" blocks; usually the most recent transactions are put down and added to it in a chronological order. It gives authorizations to market participants to monitor digital currency transactions without central record keeping.  Every computer connected to the network gets a copy of the blockchain, and by default it downloads the copy automatically.

Blockchain is not bitcoin. Blockchain is just the main technological innovation of bitcoin, same as with other cryptocurrencies.
1715257717
Hero Member
*
Offline Offline

Posts: 1715257717

View Profile Personal Message (Offline)

Ignore
1715257717
Reply with quote  #2

1715257717
Report to moderator
"In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715257717
Hero Member
*
Offline Offline

Posts: 1715257717

View Profile Personal Message (Offline)

Ignore
1715257717
Reply with quote  #2

1715257717
Report to moderator
petyang12
Member
**
Offline Offline

Activity: 352
Merit: 10


View Profile
September 01, 2018, 07:51:10 PM
 #22

That's easy. You suggest he reads the threads on Bitcoin Talk. Smiley
And ask questions afterwards if he/she did not fully understand what blockchain is to clarify his/her questions about blockchain to the pro out there.

▀▀▀▀▀▀▀▀▀▄ ▀▀▀▀▀▀▄ ▀▀▀▄     T F S     ▄▀▀▀ ▄▀▀▀▀▀▀ ▄▀▀▀▀▀▀▀▀▀
Move Your Game To The Next Level
[    TG GROUP    ]  [  TG CHANNEL  ]  [     TWITTER     ]  [     MEDIUM     ]
Xenohider
Newbie
*
Offline Offline

Activity: 12
Merit: 0


View Profile
September 02, 2018, 08:14:35 AM
 #23

Blockchain is a network that is supported by users that mine tokens, without any servers. When all coins will be mined, as I see, the network won't work.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!