Linked Questions

0
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1answer
671 views

Help understanding the blockchain [duplicate]

I am trying to better understand the fundamentals of the BLOCKCHAIN. I am not technical and am hoping someone can offer up an explanation in LAY TERMS. Thanks in advance.
1
vote
1answer
354 views

Where can one find the best explanation of the blockchain? [duplicate]

Sorry if these questions seem stupid but after a lot of research I still feel rather lost and confused !! I understand what is bitcoin and have a fairly good understanding of the basic blockchain idea ...
0
votes
2answers
61 views

is every Block of blockchain is connect to each other? [duplicate]

like as we create a new block , so it will connected to existing Blockchain or it will create a new blockchain?
1
vote
0answers
17 views

Is bitcoin client really downloads the full transaction info? [duplicate]

I started learning bitcoin and found this wiki: https://learnmeabitcoin.com/beginners/network And there is this statement: When you run the client it will connect to other nodes and start downloading ...
126
votes
7answers
50k views

How do you obtain bitcoins?

This is a question many people ask when they're introduced to Bitcoin. Bitcoin sounds interesting, but if I want to use this system I will need to get some coins, otherwise, there's no way I can ...
114
votes
5answers
20k views

Why is 6 the number of confirms that is considered secure?

Why is 6 is the number of confirmations that is considered secure? I haven't found any mathematical explanation or otherwise that explains why it is 6 and not 5 or 7. Is there a historical reason for ...
64
votes
3answers
38k views

How is difficulty calculated?

Can anyone explain me in the plain English how difficulty is calculated. I have a very approximate understanding that it is calculated based on the amount of hash power in all the bitcoin community ...
35
votes
9answers
9k views

I am new to Bitcoin, how can I get started?

I am new to both StackExchange and to the new online currency called Bitcoin. I understand what Bitcoin is and how it works, but I was wondering: how do you actually get started with Bitcoin? I have ...
56
votes
4answers
31k views

What keeps the average block time at 10 minutes?

I've been told "the network" sets the difficulty level such that there will be one new block mined every ten minutes. I imagine the rich would instead prefer to keep difficulty as high as possible to ...
46
votes
6answers
22k views

Why is downloading blocks taking longer and longer?

First off, this really needs to get fixed. I'm downloading blocks for at least 8 hours now, and it's still not done. I know the problem of having to download the entire block chain is being worked on, ...
34
votes
4answers
57k views

What are orphaned and stale blocks?

If I understand it right, a stale block is a block for which an earlier confirmation has been found and was accepted by majority of people. This block is considered invalid and is later never used. ...
54
votes
2answers
44k views

What are bitcoin “confirmations”?

When I receive bitcoins I see a certain number of "confirmations" in the client. What do these mean? Why do most sites make me wait for 6 "confirmations" before a purchase will go through?
32
votes
2answers
45k views

What is an “unspent output”?

What is the meaning of the term "unspent output" in the Bitcoin protocol?
34
votes
2answers
13k views

What is the coinbase?

I searched the bitcoin wiki and found references to coinbase, but no clear cut explanation of what exactly it is. I know that miners can tag their coinbases (that is how some sites tell who mined a ...
19
votes
4answers
5k views

What is the “blockchain”?

What is the blockchain? I keep hearing about other "blockchain technologies", does this mean other cryptocurrencies or what?

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