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
Pay-Per-Share (PPS)
You are compensated for each valid share that you contribute. Each share is worth a set amount of cryptocurrency that may be mined.
Web3 Wallet
Web3 Wallet is the software that allows you to interact with web 3.0.
MicroBitcoin (uBTC)
One millionth of a bitcoin or 0.000001 of a bitcoin. Microbitcoin is the abbreviation of uBTC and often misunderstood as the fork of Bitcoin.
Mnemonic Phrase
A mnemonic phrase (also known as mnemonic seed, or seed phrase) is a list of words used in sequence to access or restore your cryptocurrency assets.
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