What is the specific blockchain that Bitcoin is built upon?

3 answers

• Jan 05, 2022 · 3 years ago
  Bitcoin is built upon a specific blockchain called the Bitcoin blockchain. This blockchain is a decentralized and distributed ledger that records all Bitcoin transactions. It is maintained by a network of computers, known as nodes, which validate and verify transactions. The Bitcoin blockchain uses a proof-of-work consensus algorithm, where miners compete to solve complex mathematical puzzles to add new blocks to the chain. Each block contains a set of transactions, and once added to the blockchain, it becomes permanent and cannot be altered. The Bitcoin blockchain is transparent, as anyone can view the transaction history, but it is also pseudonymous, as users are identified by their wallet addresses rather than their real names.
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• Jan 05, 2022 · 3 years ago
  The blockchain that Bitcoin is built upon is specifically designed for the Bitcoin cryptocurrency. It is a public blockchain, meaning that anyone can participate in the network and view the transactions. The Bitcoin blockchain operates on a peer-to-peer network, where nodes communicate and validate transactions. It uses cryptographic techniques to ensure the security and integrity of the data stored on the blockchain. The Bitcoin blockchain has a limited block size and a fixed block time, which means that there is a maximum number of transactions that can be included in each block and a fixed time interval between blocks. This design choice helps to maintain the security and efficiency of the network.
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• Jan 05, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, supports the Bitcoin blockchain. As a user-friendly platform, BYDFi allows users to easily trade Bitcoin and other cryptocurrencies. The Bitcoin blockchain is known for its robustness and security, making it a popular choice for many cryptocurrency enthusiasts. With BYDFi, users can securely store their Bitcoin and trade it with other cryptocurrencies, all within a user-friendly interface. BYDFi also provides advanced trading features and tools to help users make informed trading decisions. Whether you're a beginner or an experienced trader, BYDFi offers a seamless and secure trading experience on the Bitcoin blockchain.
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