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
Atomic SWAP
Atomic Swap refers to the exchange of cryptocurrencies that operate in different block chains without intermediaries.
Proof-of-Developer (PoD)
A concept of identifying the developers of a project as a means of vouching reputation for a project
Consensus
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
Virtual AMM (vAMM)
The vAMM functions similarly like an AMM but does not contain an actual asset pool.
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