A blockchain facilitates secure online
transactions. A blockchain is a decentralized and distributed
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.
What is block chain technology?
A blockchain is a public ledger of all Bitcoin transactions
that have ever been executed. It is constantly growing as 'completed' blocks
are added to it with a new set of recordings. The blocks are added to the blockchain in a linear,
chronological order.
Who created Blockchain?
We do not know who invented the blockchain, because the inventor used an
alias "Satoshi Nakamoto". Very clever, because if he was
known, the blockchain is so disruptive, that his life would be in danger. So,
let us leave it the way "Satoshi Nakamoto".
What is a Blockchain application?
A blockchain is
a public ledger of all bitcoin transactions that have ever been executed. A
block is the “current” part of a blockchain which
records some or all of the recent transactions, and once completed, goes into
the blockchain as
permanent database. Each time a block gets completed, a new block is generated.
What is Blockchain banking?
Bitcoin transactions are entered chronologically in a blockchain just the way bank transactions are. Blocks,
meanwhile, are like individual bank statements.
Based on the Bitcoin protocol, the blockchain database
is shared by all nodes participating in a system.
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