Can someone explain what is a blockchain?

in #cryptocurrency • 8 years ago (edited)

Hello all,

Like a lot of people I have heard talking a lot about cryptocurrencies in the last years (bitcoin, litecoin, dogecoin on reddit, now ethereum and steem) but I have troubles to understand easily what a blockchain is?
So it would be great if someone could help and explain with simple worlds or point to a good resource explaining that :)
Thank you in advance,
Ellakee

#money #general #steemthought #steemit-market #steemstats #investment #blockchain #steemit-howto #steemit #bitcoin
8 years ago in #cryptocurrency by
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     8 years ago (edited)

    The blockchain is a distributed database.
    It can be P2P = decentralized & public... so no single point of storage or failure.

    Quick & dirty - lol.

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     8 years ago (edited)

    Hi @ellakee , @hastla provided quite a good explanation in a short sentence. If you want more detailed info, feel free to look at the reference papers on our website, The Gentle Introduction... series. Therein you will find a paper called A Gentle Introduction To Blockchain Technology, which should assist.

    Regards,

    Ricardo Goncalves (BNC Steemit Community Manager)
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