Posts Tagged ‘Blockchain’

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What Is the Blockchain?

Bitcoin transactions are stored in a public ledger called the blockchain. The idea is to eliminate the need for a third party to process payments. It is similar to a full history of banking transactions. The most recent transactions are assigned into a block and each completed block is added to the chain. Then the next block begins and added to the chain. Bitcoin is not issued or regulated by a central bank. Individual transactions are verified by individuals and rewarded […]

Investing Basics: Bitcoin and Blockchain

Cryptocurrencies like bitcoin, ethereum, and litecoin are digital currencies that offer peer to peer payment system, independent of a bank or credit card company. These cryptocurrencies, or coins, use blockchain technology, which is designed to make transactions of all kinds, secure, transparent, and accurate. A blockchain is a record of digital transactions that act as a public ledger. The ledger is maintained by a computer network which verifies transactions through solving complicated […]

Blockchain Basics Explained — Hashes with Mining and Merkle Trees

A hash is a one-way function that has multiple uses in blockchain and decentralized systems. All digital media like documents, movies, or music are just strings of binary digits of 1s and 0s. A hash function takes any digital media and runs an algorithm on it to produce a fixed length, and unique digital output known as a hash. This fixed length output is normally much smaller than the original input. Every time […]

Understand the Blockchain

When you vote, have you ever wondered whether your ballot is actually countered? If you meet someone online, how do you know they are who they say they are? When you buy coffee that is labeled fair trade, what makes you so certain of its origin? To be sure about any of those questions, you need a system where […]