Blockchain is a decentralized catalogue. This blockchain all access means central authority maintained by miners. All miners add all transactions to the catalogue and keep copy of the blockchain.
The little innovation of blockchain blockchain technology is that peer can reach unanimity in decentralized contexture. miners need to contribute emergent computing power to win the right to add a new block to the blockchain. For every accepted block a miner is a rewarded with a fix amount of BTC.
In the blockchain technology you may wonder if there is no central authority , who one check that no-one cheats the system? Here is a combination of financial encouragement and cryptography ascertain that no user can profitable from system cheating.
A rancorous miner would have to use more power then the majority of all the honest miners combined to convict the network that it is the real version is the real one. Due to the electric power, it is not potential to do.
Blockchain transactions are adjunct to the catalogue in batches ‘called blocks’ and every block of transaction references the previous block. If someone would try to change a past transaction, it can be kept secret, and here is the reason is it would break the cryptography link to all the blocks with transactions.
Blockchain Wallet Functionality
Blockchain is not only technology blockchain also wallet which is use by same like etc.com wallet. I believe blockchain wallet is also safest and secure wallet like compare to btc.com wallet. The most safety feature is that whenever you make account in the blockchain wallet at that time blockchain give you the 12 words phase key and make sure you have to keep safe this private key very carefully. If you lost this 12 words key then after you forgot your wallet id password so you can not access that your blockchain wallet and if you click on forgot password so you need that 12 words private key for re-open your wallet with 12 words key your wallet is never ever open and you can not get help from the blockchain support and other service.
You can keep buy or sell in your wallet like BTC, ETH, XRP. You can see the price of these all coin. Also you can convert the price into USD. Here you can see the full details of BTC.COM wallet and also function and how to operate and use this wallet.
Blockchain is the most secure and most better wallet then compare to other wallet and also BTC.COM is also like a blockchain wallet so you have get here 2 most powerful choices.
What is Bitcoin?
Bitcoin is a world wide digital currency. Bitcoin is based on blockchain technology. Bitcoin is making by Satoshinakamoto in Japan. with use bitcoin you can send your money convert in to the bit coin and send anywhere by using particular bitcoin wallet for example blockchain. you can say that that bitcoin is father of cryptocurrency, bitcoin is a visual.
Bitcoin is use peer to peer technology to operate with no central authority or banks. Bitcoin is open source nobody can owner and operate bitcoin. And everyone can take part in bitcoin. Now in the Indian government is announce that bitcoin is legal in India. You can use bitcoin many places. Many websites allowed bitcoin. You can buy with help online websites. In the cryptocurrency many coins are there. But without bit coin you can’t buy any coin. I preferred you guys that bit coin(BTC), bitcoin cash(BCH), ripple(XRP) , Ethereum(ETH). These are the best top position coin and every different coin are working based on different different types of technology
Cryptocurrency is biggest platform for coin based trader. Bitcoin is created in January 2009. There are no physical bitcoin. Bitcoin is type of cryptocurrency. The public key servers as the address which is published to the world and to which others may send bitcoins. The private key meant to be a guarded secret and only used to authorize bitcoin transmission. Here is the bitcoin keys should not be confused with the bitcoin wallet, which is physically or digital devices which facilitates the trending of bitcoins and allow users to track ownership of coin. Bitcoin is decentralized coin. It means you never stored but you can stored in blockchain wallet.
How work bitcoin :-
Bitcoin is first digital currency. Which is use to peer to peer technology to facilitate to instant payments. People also can do mining. It’s means miner put the bitcoin mining machine. This machine need cold atmosphere with 24 hours light. Bitcoin mining is depending on the mining machine. In the market many Mining machine are available with different types of specification.
Bitcoin is work on blockchain technology and also depend on algorithm which is invented by satoshinakamoto. Mining requires the solving of computational difficult puzzles in order to discover a new block, which is added to the blockchain for adding blog to the blockchain , miners receive a reward in the from of a few bitcoins, the reward is halved every 210,000 blocks. The block rewards 50 new bitcoins in 2009 and is currently 12.5. more and more bitcoin are created, and the main thing is the difficult of mining process is that the amount of the computing power involved increases. The mining difficulty is over 12 trillion.
1 bitcoin is divisible o eight decimal places (100 millionths of the bitcoin) and this smallest unit is referred to as satoshi. Bitcoin could eventually be made divisible to even more decimal places.
here is the basic information of bitcoin that what is bit coin and how it’s work.