Chaining: Each new block is cryptographically linked to the previous one using a unique digital fingerprint called a "hash." This creates an irreversible chain, ensuring that once a transaction is recorded, it cannot be altered or removed without invalidating all subsequent blocks in the chain.
Key Characteristics that make it a unique "database":
Decentralization: No single entity controls the manufacturing email list database. This eliminates a single point of failure and makes it resistant to censorship or manipulation.
Immutability: Once data (a transaction) is recorded in a block and that block is added to the chain, it is virtually impossible to change. This provides a high level of security and trust.
Transparency: All transactions on the public Bitcoin blockchain are visible to anyone. While addresses are pseudonymous, the flow of funds is transparent.
Consensus Mechanism (Proof-of-Work): New blocks are added to the chain through a process called "mining," which involves solving complex computational puzzles. This "Proof-of-Work" mechanism ensures that all nodes agree on the valid state of the ledger, preventing fraudulent transactions.
Append-Only: Data can only be added to the end of the chain. Records are never deleted or modified.
- Board index
- All times are UTC
- Delete cookies
- Contact us