Blockchain

(Last Updated On: April 27, 2019)

In this article, I am going to tell you about blockchain well most of you maybe confused about what is a blockchain cause most of the bitcoin users use blockchain wallet for storing your btc but if you are a newbie blockchain is actually a public ledger that has all the record of all the transaction that had been done all time.

The Logic behind blockchain 

blockchain uses a global network of computers which is us end users to jointly manage the database that holds bitcoin’s transactions records bitcoin is not managed by a central authority well like we read that bitcoin has a huge decentralization value well the decentralization word means us the network that is operated peer to peer means users to users.

Blockchain is originally blockchain where it is accounting millions and billions of transactions continuously growing network called blocks and we end users contributing in it making it a chain hence blockchain it is secured using cryptography as we know cryptocurrencies.

For instance the nodes used in a blockchain technology or protocol the nodes are users participating to make a system.Each computer or node receives the public ledger that gives all the accountability and history of transaction if we are connected to a bitcoin client.

As you can see in the above diagram number of devices running bitcoin clients connected to each other creating a blockchain.

The Ethereum anonymity protocol is also based on a blockchain algorithm.

So bitcoin and blockchain are two different things blockchain is the science behind a bitcoin.

That’s our little explanation and research on the blockchain technology.

To have an idea behind BTC’s blockchain check out the link below:

https://blockchain.info/


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