What are the fundamentals of blockchain and bitcoin?

3 answers

• Dec 16, 2021 · 3 years ago
  Sure! Blockchain is a decentralized digital ledger that records transactions across multiple computers. It ensures transparency, security, and immutability. Bitcoin, on the other hand, is a digital currency that operates on the blockchain. It allows for peer-to-peer transactions without the need for intermediaries like banks. Both blockchain and bitcoin have revolutionized the way we think about finance and have the potential to disrupt various industries.
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• Dec 16, 2021 · 3 years ago
  Blockchain is like a public ledger that keeps track of all bitcoin transactions. It's decentralized, meaning no single entity has control over it. Bitcoin, on the other hand, is a digital currency that operates on the blockchain. It's created through a process called mining, where powerful computers solve complex mathematical problems. Bitcoin transactions are verified by the network of computers in the blockchain, ensuring security and preventing fraud. The fundamentals of blockchain and bitcoin lie in their ability to provide secure and transparent transactions without the need for intermediaries.
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• Dec 16, 2021 · 3 years ago
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