Altcoins Talks - Cryptocurrency Forum
Learning & News => Further Education => For Beginners => Terminology => Topic started by: Mounty on July 01, 2018, 01:07:53 PM
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A blockchain is a database system that allows the creation of a digital ledger of transactions on a non-centralized network.
The same data is copied by several computers in a way similar to a peer to peer network, with the difference that it is updated in a decentralized way.
Cryptography is the main field that allows for users to engage with the ledger without the need for any central figurehead.
In layman’s terms, this means that people and computers all over work together to create a network instead of a network being made by one single person or company. This network is enabled and protected through cryptography! We have seen this used in currency, data transfer and on.
The blockchain is comprised of “blocks” and is constantly growing as each new record, datum, or block is added onto the chain for everyone to see.
videos to explain it:
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This is a nice topic, really good for beginners tho, but can you just summarize all the contents of your posting in a short point and count out way? Some of the terms are already given in admin's postings. Well, its not that I don't agree, but its for improvement. Job well done mate!