Blockchain
By CoinGecko | Updated on Mar 03, 2020
A digital ledger where data is recorded in a chronological order. In Bitcoin's case, it is a decentralized, public ledger which contains transactional information. Users can verify that transactions have occured simply by looking at the data that is publicized on the Bitcoin network.
In a blockchain, the next piece of information that will be added is always linked to a previous, already confirmed information of the blockchain through the use of a hash which describes the past content. With the hash, every block of information in a blockchain becomes referenced with one another, and cannot be easily swapped out, thereby qualifying as an immutable ledger.
Related Terms
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
Wash Trade
Meaningless back and forth trading between a single party with the aim of inflating trade volume.
Automatic Replay Protection
Automatic Replay Protection refers to the upgrade implemented by Bitcoin Cash to stop the loss of funds from exchanges through replay attacks.
Altcoin
Coins althernative to Bitcoin
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