The technology behind bitcoin lets people who do not know or trust each other build a dependable ledger. This has implications far beyond the cryptocurrency

  • When a miner finally comes up with a solution other nodes quickly check it (that’s the one-way street again: solving is hard but checking is easy), and each node that confirms the solution updates the blockchain .
  • It is the concatenation that makes the blocks into a chain.
  • The technology behind bitcoin could transform how the economy works
  • And nodes always work on the longest version of the blockchain there is.
  • As the proposal propagates over the network the various nodes check, by inspecting the ledger, whether Alice actually has the bitcoin she now wants to spend.

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@ZeniorXV: “”Making a hash of it” – How #Blockchain #Bitcoin works: Chart from @TheEconomist article -”


The technology behind bitcoin lets people who do not know or trust each other build a dependable ledger. This has implications far beyond the cryptocurrency


The technology behind bitcoin lets people who do not know or trust each other build a dependable ledger. This has implications far beyond the cryptocurrency