Block chain


    Block chain


  • A chain in which the alternate links are broad blocks connectedby thin side links pivoted to the ends of the blocks, used withsprocket wheels to transmit power, as in a bicycle.


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    Block chain

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    What is a 'Blockchain'

    “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”

    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.


 

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