Linked Questions

0 votes
1 answer

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.
Bitnewbie63's user avatar
0 votes
2 answers

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?
Kriti Joshi's user avatar
1 vote
1 answer

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 ...
MFJC's user avatar
  • 111
1 vote
0 answers

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

I started learning bitcoin and found this wiki: And there is this statement: When you run the client it will connect to other nodes and start downloading ...
Fun Coder's user avatar
122 votes
5 answers

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 ...
osmosis's user avatar
  • 5,529
78 votes
3 answers

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 ...
Salvador Dali's user avatar
41 votes
10 answers

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 ...
PowerofMerlin's user avatar
60 votes
4 answers

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 ...
billpg's user avatar
  • 2,030
40 votes
4 answers

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. ...
Salvador Dali's user avatar
60 votes
3 answers

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?
lemonginger's user avatar
  • 5,432
34 votes
3 answers

What is an "unspent output"?

What is the meaning of the term "unspent output" in the Bitcoin protocol?
ripper234's user avatar
  • 26.6k
38 votes
2 answers

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 ...
Andrew Burns's user avatar
6 votes
5 answers

Can you transfer Bitcoins from one address to another address directly without going through the web?

If you and a recipient both have a wallet on a flash drive, is it then possible to transfer bitcoins from one wallet to the other using a computer without going through the web? Example in life: "...
Alex's user avatar
  • 321
16 votes
3 answers

What is a nonce?

When I see the block info on blockchain, I see that there is a field named "nonce", I could not find any relevant information on web regarding what a nonce is. Please explain what a nonce is what is ...
GypsyCosmonaut's user avatar
9 votes
3 answers

How do miners detect double-spending?

Assuming I spent 1BTC, then waited a few months and then spent it again. How is this detected? Do the miners go through the entire blockchain to assure the coin was never spent before?
frmsaul's user avatar
  • 191

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