Crypto 101: What Is The Blockchain?

brandneweyes (56)in #dlive • 7 years ago

So, What is the blockchain?:

Bitcoin and most other cryptocurrencies are based on blockchains, otherwise referred to as distributed ledgers. These digital files anonymously record every transaction made on a particular cryptocurrency network, while simultaneously made available to all users for review. In that review process, a code that is specifically associated with each transaction and coin can be traced through the distributed ledger. Meaning that no one can spend a coin twice, in the same moment.

Cryptocurrencies, like bitcoin, are currencies that only exist in a digital sense. There are no physical golden coins with a big “B” on them. Moreover, owning these digital coins creates a new idea of “ownership.” You don’t literally have it in your hands, or even in your bank account, everything is stored on the public blockchain via transaction records on the distributed ledger. You do however have the ability to transfer “ownership” to someone else simply by creating a new transaction record on the blockchain.

Sources:
https://www.investopedia.com/terms/b/block-bitcoin-block.asp
https://www.coindesk.com/information/blockchains-issues-limitations/
http://dataconomy.com/2015/10/wtf-is-the-blockchain-a-guide-for-total-beginners/
https://www.coindesk.com/information/how-does-blockchain-technology-work/

Join my discord!: https://discord.gg/CpQy99C

Follow me:
Patreon: https://www.patreon.com/cryptocandor
My other vlog: https://www.youtube.com/awproductions
Twitter: https://twitter.com/cryptocandor
Steemit: https://steemit.com/@brandneweyes
Instagram: https://www.instagram.com/cryptocandor/
Cryptex Discord: https://discordapp.com/invite/GyPcXQd
Website: www.cryptocandor.com

If you're feeling generous- Tip Jars:

ETH: 0x3b97C664a9DAf6c79d6d577E0048a412BaAe68dE
BTC: 1K2Qjrf5KUxMpLqfmXLWJxwBnPzayoiGGL
Bitcoincash: 1ECdtoqg3RcWkt4JY9bb1BrvBpLsm7h3ho
LTC: LhimSAApQPY68EzXzLU1YVw4hndLfjEcXw
VTC: Vi7Bf9cGTDT2Fy55wAHeXxEKbq1EFScWg5
LSK: 7023499790024781333L
PIVX: DMBX1QdEwVsi3DVmftEvFFjd7MGV6Xfnma
BLOCK: Bi1MrzBb5EkXQckNFgXtYAw1aDHNkKvRTs
DASH: XrvCsw51nkm9Me8iwtMCyKWUrmNXFe6DMf

ADA: DdzFFzCqrht4t5pJS75mBtw7iDthAqw5gxhys1tRBt7EbTNaPLjpRpru4Zbqz3RcZXbwvz6kHXHH1EFb33v2xo3p12TC9jzXrV7B1DZm

My cold wallet: https://www.ledgerwallet.com/r/1f08

DISCLAIMER:
The information provided is not to be considered as a recommendation to buy or invest in certain assets or currencies and is provided solely as an educational and information resource to help traders make their own decisions. Past performance is no guarantee of future success.
It is important to note that no system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the attached material will guarantee profits or ensures freedom from losses.
CryptoCandor shall not be liable to the participant for any damages, claims, expenses or losses of any kind (whether direct or indirect) suffered by the participant arising from or in connection with the information obtained this website or directly from the website owner.

My video is at DLive