Language: English | Size: 1.84 GB | Duration: 2h 11m
A simple to digest Dummies Guide to Bitcoin & Cryptocurrency! Find out if Crypto is for you and what strategies to use.
What you'll learn
If you decide it is for you, prepare a simple plan to get started
Decide if investing or trading cryptocurrency is a good option for you
Have a taste of what to expect in when entering this wild west of cryptocurrency
Be able to talk about the basics of cryptocurrency with others and have a better understanding of what it is
Requirements
No prior knowledge
Description
A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
One key difference between a typical database and a blockchain is how the data is structured. A blockchain collects information together in groups, known as blocks, that hold sets of information. Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. All new information that follows that freshly added block is compiled into a newly formed block that will then also be added to the chain once filled.
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