What is the blockchain that Bitcoin is built on?

3 answers

• Jan 02, 2022 · 3 years ago
  The blockchain that Bitcoin is built on is a decentralized, public ledger that records all Bitcoin transactions. It is essentially a chain of blocks, where each block contains a list of transactions. This blockchain is maintained by a network of computers, known as nodes, that validate and verify transactions. The blockchain ensures transparency, security, and immutability of the Bitcoin network. It is designed to prevent double-spending and provide a trustless system for peer-to-peer transactions. The Bitcoin blockchain uses a proof-of-work consensus algorithm, where miners compete to solve complex mathematical problems to add new blocks to the chain. This ensures that the blockchain remains secure and resistant to tampering.
  736368
• Jan 02, 2022 · 3 years ago
  The blockchain that Bitcoin is built on is like a digital ledger that keeps track of all Bitcoin transactions. It is decentralized, meaning that it is not controlled by any central authority. Instead, it is maintained by a network of computers around the world. Each transaction is recorded in a block, and these blocks are linked together in a chain. This chain of blocks is what makes up the blockchain. The blockchain ensures that transactions are secure and transparent, as each transaction is verified by multiple computers in the network. It also prevents double-spending, as once a transaction is recorded on the blockchain, it cannot be changed or reversed. Overall, the blockchain is the foundation of Bitcoin and is what makes it a secure and reliable digital currency.
  779260
• Jan 02, 2022 · 3 years ago
  The blockchain that Bitcoin is built on is called the Bitcoin blockchain. It is a public ledger that contains a record of all Bitcoin transactions. The blockchain is maintained by a decentralized network of computers, known as miners, who validate and verify transactions. Each transaction is grouped into a block, and these blocks are linked together in a chain. The blockchain ensures the integrity and security of the Bitcoin network, as it is nearly impossible to alter past transactions without the consensus of the majority of the network. The Bitcoin blockchain uses a proof-of-work algorithm, which requires miners to solve complex mathematical problems to add new blocks to the chain. This process ensures that the blockchain remains secure and resistant to attacks.
  775194