Concept
What is recorded in the bitcoin blockchain?
chapter 5 / Building the Blockchain
"The bitcoin blockchain is a chronological chain of blocks, with each block containing transactions that occurred around the same time. This sequence records the balances and identifying information associated with bitcoin addresses and makes later attempts to spend an already used balance identifiable as illegitimate. A payment remains pending until miners place it in a block, after which the transaction becomes permanently recorded and, once confirmed, effectively irreversible."
Related Ideas
- How does the blockchain prevent double-spending?chapter 5 · Building the Blockchain
- Why can a transaction take time to become fully confirmed?chapter 5 · Building the Blockchain
- How do other miners confirm a winning block?chapter 5 · Building the Blockchain
- What work do bitcoin miners perform?chapter 5 · Building the Blockchain
- How do hashes package transactions into blocks?chapter 5 · Building the Blockchain
- How do bitcoin addresses and private keys authorize payments?chapter 5 · Building the Blockchain
- Why does each block link to the previous block?chapter 5 · Building the Blockchain
- Why is a decentralized public ledger important?chapter 5 · Building the Blockchain