What is the blockchain in Bitcoin World?

What is the blockchain in Bitcoin World?

If you are new in the world of the bitcoin you would have a lot of questions and "What is the blockchain?" could be one of them. So I am going to explain and answer this question with this post.

Tha blockchain is a very powerfull technology and have the capability of changing all in some parts of our society despite its internal operation it's very complex it is possible to explain and understand which it is roughly.

 

What is the blockchain?

If you are new in the world of the bitcoin you would have a lot of questions and "What is the blockchain?" could be one of them. So I am going to explain and answer this question with this post.

Tha blockchain is a very powerfull technology and have the capability of changing all in some parts of our society despite its internal operation it's very complex it is possible to explain and understand which it is roughly.

It is like a ledger of a company that place where all transactions are written with the difference that there are a copy of all the records distributed in a big network of computers where if someone want to create a fake record it won't be approved by the rest of nodes. That person can only reach his aim if more of the half of network agree to lie a the same time without a previos deal. So that is impossible.

 

Understand the blockcahin in two minutes

Here there is a short video that explain easily how it works.

 

Conclusions

As you can see the potencial of the blockchain is awesome, it could be used in different business because it is secure and versatile. It is why bitcoins is a powerfull economic tool. So now you understand more about the bitcoin and how its network works and why is securest than other methods of payment and currencies.