Explain blockchain?
How would you explain what a blockchain is to students? Perhaps some good examples? Thank you! 🙏🏻
(1 votes)
Loading...
(1 votes)Loading...
(1 votes)Loading...Similar Posts
Will Bitcoin/Ethereum etc. eventually become the world's primary currency?
The advantages clearly outweigh
Who/what is the recipient here?
ByxKaya
the account holder or the bank name? I wanted to buy cryptocurrencies
Taxes on crypto (Austria)?
ByTxm383
Hello, I'm trying to sell a cryptocurrency on Bitpanda. It says that the sale may be subject to tax. If I sell now, will the taxes be automatically deducted from the profit or do I have to take care of something?
Bitcoin for crime?
How come Bitcoin is still being used for criminal activities even though it's no longer as anonymous as it once was? Don't you have to verify your identity with your ID to use Bitcoin?
What are the benefits of a crypto savings plan and what is the most important thing?
ByNoddy72
I'm currently looking into Bitpanda. Is there anyone here who knows a lot about it and can tell me what's important, what leverage/savings plan/staking, etc. are? Thanks in advance.
Quite roughly, a blockchain is simply a cryptographic classification of blocks. The older ones cannot be changed unnoticed because the newer blocks are built on the older ones. If you wanted to change old transactions, you would also have to regenerate everything that would require a lot of energy.
I think the best thing is if you look at the video from the block trainer. If you have any questions, please let me know.
https://youtu.be/HVu0FsUJTbw
I can only explain the bitcoin blockchain to you, but also to other blockchains.
The Bitcoin Blockchain is a public, decentralized cash register that records transactions in a secure and comprehensible way. Each participant in the network has a copy of this blockchain and can validate it by checking it yourself according to the rule of the network.
Each transaction is combined and verified in a block before it is included in the blockchain. This verification is carried out by the mining process (also referred to as Proof of Work, the proof of work) where computers compete with a very large target number. The first computer that finds this number adds the block to the blockchain and receives new bitcoins as a reward.
The blockchain is safe because each block has a hash that clearly refers to the previous block. If someone tries to change a transaction in the blockchain, this would change the hash of the block, which would be noticed and the network would reject the change.
A Hash is a unique string that is calculated from any quantity of data. It serves as a digital signature for this data and can be used to check the integrity of data.
A hash algorithm is deterministic, i.e. every time the same data is entered, the same hash value is calculated. Therefore, a changed data element can also generate a completely different hash value, which makes it possible to detect changes to the data. Zb gives the word Hallo another hash like the word hAllo. You can see that the data is different. To hare, however, all data can be taken you can also hate hare with hare and see again if something has been changed 😛
Blockchain technology uses hahes to identify and verify blocks and transactions. Each block in the blockchain contains a hash that refers to the previous block, which forms an invariable chain of blocks called blockchain.
In summary, the Bitcoin Blockchain works as a decentralized, secure cash register that verifies and stores transactions to create an invariable recording system for the exchange of Bitcoins.
The The blockchain from you can get her live with a block explorer like e.g. Mempool.space View