Bitcoin is one of the most widely accepted cryptocurrencies around the world. This is because of the blockchain technology that supports bitcoin transactions.

So, what is a blockchain? A blockchain is actually a large public database where every bitcoin transaction is stored as blocks.

Each block is encrypted via hash code, and blocks are linked with each other in such a way that any newly created block’s hash code is designed based on the previous block’s hash code. Because of this hash coding, if an anonymous person tries to tamper with the chain, the hash code becomes more complex, making theft impossible. Even very small changes in the network are indicated to all bitcoin users connected to the network. Continue reading →