Meaning of blockchain | Babel Free

Definitions

A shared record of past transactions in a distributed network, typically used for cryptocurrency.

Equivalents

Examples

“By the way, mobile wallets differ⟳ from most software wallets in that they don't download⟳ the entire Bitcoin blockchain with every transaction. (Many software wallets do, interestingly.) Because the blockchain is a file⟳ several gigabytes in size, this would eat⟳ up a ton of mobile bandwidth and probably cause your mobile provider to either enact overage charges or just plain cancel⟳ your account. In addition, your mobile phone probably doesn't have⟳ enough onboard storage to host⟳ the entire […]”

“[…] blockchain is arguably the most important innovation introduced by Bitcoin. It is the missing link⟳ that makes distributed peer-to-peer digital currencies possible. The blockchain is in essence a distributed database holding all the Bitcoin transactions since the beginning (January 3, 2009) and a method to secure this database. The blockchain keeps a secure list of all the transactions. However, there are relevant questions, such as whether a particular transaction output is spendable, that […]”

CEFR level