What is Blockchain ?
Created by Kshitij about a year ago
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From what I understood, each block is a ledger (like credit and debit transactions). So, how many such transactions are stored/recorded in a single block?
What exactly does "mining" mean in this context? If a block is a ledger (a record of transactions) then I'm not able to understand how the word "mining" fits here? I know that it requires computing power to mine, so is this computing power used to record transactions, hence creating a block?
How does it verify that miner has not tampered with the block before adding it to the chain and sharing it with peers?
How exactly does one become a peer? Is there a signup kind of thing to become part of the blockchain? And also what does one gain by becoming a peer?
Why do peers keep a copy of blockchain? I'm guessing to verify if the chain has not been tampered with?
If it is distributed, then what happens if the peers are let's say around 10-12 and coincidentally everyone's system is offline?
really clear explanation about blockchain
It was explained very well and in easy way.
Decent explanation but still not clear about blockchain
am watching first time about crypto or blockchain and i understand very well about what is ledger and What is immutable but still not clear about Distributed
Its explain well
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This reminds me of accounting where the same entry is recorded on multiple books. Really enjoyed it.
The core feature of blockchain
Blockchain Ledger which cannot be altered and data is distributed across different nodes.
I have a few questions, can you answer or point me in the correct direction?:
That's a lot of questions 😅 but as someone who's familiar with traditional systems watching the first blockchain-related video, these are the obvious ones that came to my mind after watching this video. Thanks! watching this video is making me curious to explore further onto this subject.
If everyone has copies of actual data then can we say that for storing a data we need multiple time more space as compared to centralized method??