What is Blockchain? - Mine Digital
Knowledge
Posted in:

What is Blockchain?

July 19, 2019 • 
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Spread the word
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
The Blockchain is a public, digital ledger containing the entire set of bitcoin transactions. Blockchain technology was created to facilitate digital transactions in a way that did not require a third party to validate the transaction.

The blockchain is a public, digital ledger containing the entire set of bitcoin transactions. Blockchain technology was created to facilitate digital transactions in a way that did not require a third party to validate the transaction. The Bitcoin blockchain solution is a set of records that show the full history of the digital token. The provenance of a token and the chain of transactions since its creation should indicate the rightful owner of the token. When the first blockchain transaction was processed with a de-centralised computing network, the trust-less, de-centralised transaction was possible.

So blockchain is a list of bitcoin transactions that have been organised into blocks that go back to the origin of the coin itself. The usefulness of the blockchain is in proving the validity of a new bitcoin transaction where it is validated on a public ledger by a de-centralised group of computers. With this process, the de-centralised, trust-less transaction has been created. The entity known as ‘Satoshi Nakamoto’ is credited with creating the blockchain technology. Blockchain developers created the full Bitcoin protocol following his release of the Bitcoin ‘white paper’.

Written By
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The FUD

Chicken Loving Yam Farmers

Grilling Tendies While Staking AMPL to Farm YAM. Welcome to the future of DegenFinance. Here it is, the 23nd edition of The FUD, where I

Read More »

Sign up

Never miss a thing! Sign up to
The Knowledge Mine Digital’s newsletter on all things Crypto