Public Blockchain
By CoinGecko | Updated on Mar 03, 2020
In contrast to permisioned blockchain - where participation and access into the blockchain data requires authorisation, a public blockchain such as Bitcoin is completely is free and available to the public. Anyone can join and view its data. Public blockchain adheres to the original Bitcoin Protocol ethos of not having a central authority to overwrite anyone's authority. Public blockchains are resistance to censorship and foreign interference as it has no single point of failure.
Related Terms
Sim Swapping
It is a tactic where hacker overtake the mobile phone to exploit the two-factor authentication and two-step verification.
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
Block
In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.
Genesis Block
It is the first block of data that is processed and validated to form a new blockchain, typically called as 'block 0' or 'block 1'.
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