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
Over The Counter (OTC)
It refers to the process that cryptocurrencies are being traded outside exchange and it is done directly between two parties
QR Code
Abbreviation "Quick Response Code", QR code is a machine readable optical label that stores up to 3Kb of data
IPO
Initial Public Offering (IPO) refers to the process where a public company offers newly issued shares to the public and as a result raise capital from public investors.
Decentralized
A system where there are no centralized points of failure or organization with no central authority figure.
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