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
Token Burn
An event in which tokens are verifiably removed permanently removed from circulation.
Altcoin
Coins althernative to Bitcoin
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Cryptocurrency
A form of digital currency that utilizes cryptographic protocols to record ownership and prevent counterfeiting
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