What is Blockchain?


#1

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. Each node (computer connected to the Bitcoin network using a client that performs the task of validating and relaying transactions) gets a copy of the blockchain, which gets downloaded automatically upon joining the Bitcoin network. The blockchain has complete information about the addresses and their balances right from the genesis block to the most recently completed block.


#2

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.


#3

A block chain is a dispersed database that keeps up a consistently developing rundown of information records that are solidified against altering and update, even by administrators of the information store’s hubs. The most broadly known use of a square chain is the general population record of exchanges for cryptocurrencies, for example, bitcoin. This record is authorized cryptographically and facilitated on machines running the product.


#4

Blockchain is a critical part of the bitcoin peer-to-peer payment system. The bitcoin system works using a blockchain ledger to record transactions. Bitcoin is a global cryptocurrency that can be used as a medium of exchange


#5

In non-technical language, Bitcoin is a digital currency in which transactions can be performed without the need for a credit card or central bank. It’s designed to enable users to send money over the Internet in a very simple and efficient way.


#6

Blockchain can be said to be the underlying technology that helps secure the a cryptocurrency network see this article


#7

Blockchain is a technology based on distributed database. Distributed database means that the data is not stored on a single location but on different computers/servers called nodes in a Blockchain Network. Every transaction happening is known by the whole network immediately which also verifies it. That’s why this technology is also known to be based on distributed ledger or Public Ledger. Every ten minutes, a block of data is formed, containing information of all the transactions that happened in those 10 minutes, which is stored with the previous block in a manner which in unalterable, and with a time stamp. This makes solutions based on Blockchain secure and transparent. To know more about block chain technology and its implementation in various industries, please visit Sofocle.


#8

Absolutely is the future and a lot of development going on in this area. Many projects in POC stage ready to unravelled after successful testing. Here’s an article on Identity theft and Blockchain chain - https://nuitconuit.wixsite.com/nuitconuit/single-post/2017/08/15/Identity-theft-Blockchain-Limitations


#9

Nice definitions. Here is some more useful info about private and publiс blockchains. Wrote this article myself while was looking into this topic. Here is the link


#10

Hello. I need help understanding some of the results I get from a block chain lookup. Mainly the “confirmations” and the “no children - unspent”

I’ve recently performed a BTC transfer which after almost 10 hrs has over 50 confirmations and also “output unspent and has no children” further more the receiving wallet still shows no mention of that incoming transfer.

I’m not sure what to make of this. I know this is kinda of a noob’s inquiry but I’d appreciate any help I get understanding a BTC transfer.

Also if there’s another discussion for beginners’ inquiries please tell me about.


#11

Guys i just lost my bitcoin in this mother fucker company,dont trust blockchain trust bitcoin but now these motherfucker, i transfer my bitcoin from zebpay to my blockchain account and then put all security after 4 minutes someone from these motherfuckers transfer it and when i call for complain they seeze my number.
but i will not stop here i am going to make a video and viral it
mother fucker blockchain they have employee who stole from other accounts