Blockchain
A blockchain is a distributed ledger that records all transactions in a chronological and tamper-proof manner.
A blockchain is a public database that is updated and shared across many computers in a network.
Block refers to data and state being stored in consecutive groups known as blocks.
Chain refers to the fact that each block cryptographically references its parent. In other words, blocks get chained together. The data in a block cannot change without changing all subsequent blocks, which would require the consensus of the entire network.
Decentralization: Blockchains are decentralized, meaning that there is no single central authority that controls them. Instead, blockchains are maintained by a network of computers or nodes. This makes blockchain very secure and resistant to tampering.
Transparency: All transactions on a blockchain ledger are public and transparent, meaning that anyone can view them. This helps to build trust and reduce the risk of fraud.
Immutability: Blockchain transactions are tamper-proof and persistent, meaning that they are very difficult to change or delete once they have been recorded on the ledger. However, there have been rare cases, such as the DAO attack, where blockchain transactions have been updated. This is typically done by consensus among the majority of nodes on the network.
Blockchain Network
A blockchain network is a decentralized network of computers that are connected to verify and record transactions on a blockchain. Each computer in the network, also known as a node, maintains a copy of the blockchain ledger.
Node
A node is a computer that is connected to a blockchain network and maintains a copy of the blockchain ledger. Nodes are responsible for verifying and processing transactions, and for maintaining the security of the network.
How to become a node on a blockchain network?
To become a node on a blockchain network, you will need to:
Download the blockchain software: This software is responsible for verifying and processing transactions, and for maintaining a copy of the blockchain ledger. Once the blockchain software is installed and configured, the computer will become a fully functioning node on the network. This means that it will be able to participate in all aspects of the network, such as sending and receiving transactions, verifying and processing transactions, and maintaining a copy of the blockchain ledger.
Blockchain software is a computer program that is used to interact with a blockchain network. There are several different blockchain software programs available, each with its features and benefits. Some of the most popular blockchain software programs include:
Connect to the network: This can be done by connecting to other nodes in the network or by using a public node list.
Synchronize the blockchain ledger: This means downloading a copy of the entire blockchain ledger from other nodes in the network.
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