What is Blockchain Technology?
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Join us for an easy to understand and simple breakdown of bitcoin [BTC] technology. We’ll introduce you to all the basic concepts so you can begin your journey into the world of bitcoin [BTC] and cryptocurrencies. Stay tuned for our simple bitcoin [BTC] guides being released every Monday!
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How Does Blockchain Work?
Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the bitcoin [BTC].
Information held on a bitcoin [BTC] exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The bitcoin [BTC] database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.
To go in deeper with the Google spreadsheet analogy, I would like you to read this piece from a bitcoin [BTC] specialist.
Blockchain as Google Docs
https://blockgeeks.com/guides/what-is-blockchain-technology/
