Blockchain explained... in under 100 words Strategy ...
Blockchain explained... in under 100 words Strategy ...
All you need to know about blockchain, explained simply ...
What Is Blockchain? The Bitcoin Technology Explained for ...
Blockchain.com - The Most Trusted Crypto Company
What is Blockchain? 10 experts attempt to explain it in ...
New to Bitcoin? Confused? Need help? You've come to the right place.
Bitcoin is an internet based decentralised currency. Similarly to Bittorrent, but Bitcoin uses a public ledger called the blockchain to record who has sent and received money. It's very new, and for many very confusing. BitcoinHelp aims to rectify this. Whether it be explaining how it works, how to use it, how to buy Bitcoins, how to integrate Bitcoins into your business. Sharing your successes as well as failures in order to help others is also gladly received. Ask away!
OneGramCoin (OGC): All disucssions of the digital token backed by gold take place here!
OneGram uses blockchain technology to create a more resillient and stable cryptocurrency where each coin is backed by one gram of gold at launch. Each OneGram transaction generates a small fee. Unlike other cryptocurrencies, in OneGram, this fee is reinvested (net of admin costs) to buy more gold and increase the amount of gold that backs each token. 3,000,000 OGC already invested! [Are you next?](https://tokensale.onegram.org/)
BCexchange, the decentralized cryptocurrency exchange for everyone
Subreddit for BCexchange (short for Blocks & Chains Decentralized Exchange). B&C Exchange will be an open-source decentralized exchange that completes cryptocurrency trades between users by utilizing multisig signers that compete for blockchain rewards based on their effectiveness and honesty. Trades occur using real cryptocurrencies such as Bitcoin and NuBits.
I understand that most analogies that attempt to explain blockchain/bitcoin will be inherently incomplete/flawed since the technology is so new, but I still think they are critical for new participants to get a grasp on what’s happening, at least for me personally. Hoping to get some help as I am having trouble synthesizing a few concepts:
Private/public keys and digital signatures
Sequence of events
Order in which transactions are recorded
Mining nodes vs non mining nodes
My understanding is that all transactions are broadcast to the network. Initially I thought the distributed ledger was analogous to 4 individuals playing monopoly. Instead of having a banker, each player writes down whenever a transaction takes place. This particular analogy lead me to believe transactions were recorded in real time (a player shouts out their transaction and immediately all players record the transaction). Learning about the proof of work lottery required me to tweak my understanding a bit. (Except in the case of forking) I gather that only one individual in the entire network is mining a block (recording transactions) at any given time? Not sure if this is true, but assuming it is, that person records transactions in time sequential order (or so I thought). Somehow a public and private key are involved here: I decided a public and private key are analogous to a username and password (I think this is grossly over simplified). Anyway, providing the password that corresponds with your username allows you to conduct transactions (digital signature). There is some validation of each transaction before the transaction reaches the miner (mechanisms here are unclear). As stated above, I was initially under the impression that the miner is recording transactions in time sequential order, but then I remembered transactions fees. This lead me to think of transaction fees like bidding on eBay: the higher transaction fee you pay moves your transaction to the top of the list. Therefore transactions are not recorded in real time. When your block is full (is there a certain GB limit?) the network validates that everything checks out. You get a lil piece of the action (deposit of transactions fees and a reward for mining a block into your wallet). The proof of work lottery begins again. Two unanswered questions remain:
Is the proof of work lottery “paused” while someone is actively mining a block?
I have become exposed to the idea of mining and non mining nodes... what exactly is a non mining node? Someone who conducts (and validates) transactions but doesn’t play in the proof of work lottery? Or just pretty much everyone who owns bitcoin but is not set up for mining?
Very grateful to anyone who can check my understanding. Most of what I've learned comes from the ebook Inventing Bitcoin, this Hackernoon article that dives a bit deeper into validation, and this 3Blue1brown Youtube video that provides a high level review of foundational concepts. In addition I've been watching the Khan Academy series on Bitcoin, and listening to the Unchained podcast pretty religiously, however since I still feel uncertain on these introductory topics, I feel like I can't be totally engaged with new content.
"I was concerned about the scalability of Bitcoin and satoshi responded to me saying that if I don't understand, he doesn't have time to explain it to me. So, I went on and created 3 of the highest performance blockchains out there." - Dan Larimer #THUGLIFE
How to explain Bitcoin and the blockchain to newbs?
Hi everyone, so I have tried to explain bitcoin and the blockchain to my family but they still seem not to get it. So is there a very good and thorough beginners 101 bitcoin video that I can show them, so they would understand me better? Would help alot :)
Everipedia's Brave Creator of the Day: YouTuber TheCryptoLark combines his political science background, critical thinking skills, and bright sense of humor to produce content that explains blockchain solutions and Bitcoin to the world! 🚀
"I was concerned about the scalability of #Bitcoin and satoshi responded to me saying that if I don't understand, he doesn't have time to explain it to me. So, I went on and created 3 of the highest performance blockchains out there." - Dan Larimer
I am chatting with some friends who recently started in bitcoin. They are being convinced by other projects that they claim to be better than bitcoin. I wonder how to be convincing when trying to explain to them that all other cryptocurrencies are a copy of bitcoin.
Bitcoin was invented in 2009 by a person (or group) who called himself Satoshi Nakamoto. His ... These blocks are known, collectively, as the "blockchain" -- an eternal, openly accessible record ... Buying crypto like Bitcoin and Ether is as easy as verifying your identity, adding a payment and clicking "Buy". Sign up for our Wallet today. Create Wallet. Trade Crypto at the Exchange. Integrated with the Blockchain Wallet, our Exchange is a one-stop shop where you can deposit funds and place trades seamlessly in minutes. Get Started . Dive Deeper. Buy Crypto. Bitcoin $ USD. Your Email ... Here is our attempt to explain the original intent of the Blockchain in fewer than 100 words. ... Transactions are collected into blocks before being added to the Blockchain. Miners receive a Bitcoin reward based upon the computational time it takes to work out a) whether the transaction is valid and b) what is the correct mathematical key to link to the block of transactions into the correct ... We are using strangers to explain this, because in the real world, most Bitcoin users do not know each other. The notebooks in this example represent what's called the Bitcoin Blockchain. The Blockchain stores a public record of every single bitcoin transaction ever made. The Blockchain is not on paper but 100% digital and public. Most importantly, there are thousands and thousands of ... Unlocking blockchain, the tech behind the Bitcoin revolution To understand it, you need to first know the basics of cryptography. Jan 9, 2018, 3:47 pm* Tech . Claire Downs.
Blockchain, the key technology behind Bitcoin, is a new network that helps decentralize trade, and allows for more peer-to-peer transactions. WIRED challenge... WIRED challenge... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin is the first decentralized digital currency. All Bitcoin transactions are docume... This Blockchain video will help you understand what led to the creation of Blockchain, what Blockchain is, how a Bitcoin transaction works, how Blockchain pl... A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency's block chain ... A full copy of a currency's block ... Forget the currency; it’s the protocol behind it that matters. Blockchains will mutate and take over everything we do on the Web. Trusting strangers with you...