Tag: Bitcoin

What is Blockchain Blockchain can be described as a data structure that holds transactional records and while ensuring security, transparency, and decentralization.Digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Check-Out Video Explanation on Blockchain https://youtu.be/0S1Fsow3ct0 What is Bitcoin Bitcoin is a computer file which is stored in a 'digital wallet' app on a smartphone or computer. It is believed to be created by Satoshi Nakamoto & came into picture in 2009.Bitcoin is a decentralized digital currency, without a central bank or single administrator Understanding Transactions on Blockchain Every transaction is attached with hash code which is unique and can not be altered. Mathematical solution that verifies the transaction is attached into the block which can not be changed by reverse engineering. Various Blockchain Solutions Following are the best solutions from Blockchain networks:No or negligible transaction feesAvoid Double paymentsStable financial systemTotally Hack proofBlockchain and Bitcoins are getting popularity because of technical reasons discussed in the video . Stay tuned for many more articles on Blockchain technology & cryptocurrencies.