Showing posts with the label mining

What Is The Blockchain?

Blockchain (i.e. Blockchain Technology i.e. The Blockchain) is a computer network that works by being shared freely among and used by many participants.

The idea behind blockchain is that there are times when it is beneficial to have a permanent record of transactions. Those transactions can be the purchasing of property, the sale of goods or services, or the exchange of currencies. In its simplest form, a blockchain is just a list of transactions using a medium of exchange. In its initial implementation, that medium was a "coin" called a Bitcoin. Subsequently, many other coins were created and those coins are all used in their own blockchain. As of December 22, 2018, CoinMarketCap lists 2067 coins/tokens ( On the most basic level, they are all mediums of exchange for transactions that are put on a list. This list is called a ledger and this is intuitive as transactions are frequently economic.

When new transactions occur, they are …