Post
Topic
Board Bitcoin Discussion
Re: Bitcoin and Cryptocurrency Technologies
by
YUriy1991
on 02/04/2023, 15:49:19 UTC

Question:
How do Bitcoin and its blockchain actually work?

Interesting. How Bitcoin and its blockchain work, I try to give a general explanation of the process. Bitcoin is a decentralized digital currency created through a process called mining, in which computers compete heavily to solve complex math problems. Once the problem is solved, miners are rewarded with a certain amount of Bitcoins.

All transactions on the Bitcoin network are recorded on a public ledger known as the blockchain. The blockchain is managed by a network of nodes, each of which has a competing ledger. Transactions are identified and added to the blockchain through a process known as context, which ensures ledger integrity and prevents double-spending.

In my opinion, "Bitcoin and Cryptocurrency Technology" is a valuable resource for anyone looking to gain a deeper understanding of Bitcoin and the blockchain technology it lays out.