A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.
Which of the following best describes a blockchain?
Blockchain technology is most simply defined as a decentralized, distributed ledger that records the provenance of a digital asset. Merkle tree: A Merkle tree stores all the transactions in a block by producing a digital fingerprint of the entire set of transactions.
What is the best definition of a blockchain?
Blockchain is the technology that digital currency, cryptocurrency and Bitcoin are built on. More specifically, it's the underlying technology that constructs a decentralized digital ledger that enables exchanges between multiple parties in a secure, immutable manner. Digital currency.
What is a blockchain usually described as?
A blockchain is a type of distributed database or ledger—one of today's top tech trends—which means the power to update a blockchain is distributed between the nodes, or participants, of a public or private computer network. This is known as distributed ledger technology, or DLT.
What best describes a blockchain quizlet?
Blockchain is an encrypted, distributed database shared across multiple computers or nodes that are part of a community or system.
When did blockchain become a word?
The words block and chain were used separately in Satoshi Nakamoto's original paper, but were eventually popularized as a single word, blockchain, by 2016.