How does Blockchain technology works ? Who are the nodes which verify the transaction? Can I become a node to verify the transaction? Who all the get the copy of Blockchain ? Is the Blockchain shared to everyone on the site or to only those who are doing the transaction ?
Answers
Answer:
Please refer to the attachment.
It said "RUDE WORDS"
idk why...
Hope it helps you
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Answer:
system of recording information in a way that makes it difficult or impossible
it's run by the people who use it
Explanation:
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. ... Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant's ledger.
First, nodes broadcast and relay transactions to other nodes and miners. Miners batch these transactions into blocks and publish those blocks to the blockchain, validating the transactions. Nodes receive these blocks, share them amongst one another, and verify that the miners are following the rules of the network.
Blockchain is different because nobody is in charge; it's run by the people who use it. What's more, bitcoins can't be faked, hacked or double spent – so people that own this money can trust that it has some value.
