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
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Burned Tokens
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable.
Sharding
A form of database partitioning which breaks up data into smaller segments.
Cloud Mining
Mining on blockchains through rented processing power rented from companies that host the physical equipment.
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