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Blockchain explained and can it be changed?
#1
Lightbulb 
Here is a simple explanation about the ledger and the blockchain for Bitcoin. Full nodes are also explained.

https://bitsonblocks.net/2015/09/09/a-ge...echnology/

"The logic in bitcoin is:

  • Make it hard to generate a fingerprint that satisfies the rules of The Bitcoin Blockchain

  • Therefore, if someone wants to re-write parts of The Bitcoin Blockchain, it will take them a long time, and they have to catchup with and overtake the rest of the honest network
This is why people say The Bitcoin Blockchain is immutable (can not be changed)*.
*However, blockchains in general are not immutable.
-> Having said that, the peer-to-peer data sharing mechanism, plus the fingerprinting makes it obvious when a participant tries to alter some data, if you keep track of the fingerprints."


Regarding the immutable blockchain there is a link here https://bitsonblocks.net/2016/02/29/a-ge...ockchains/ 
Cardano is the most promising 3 gen. crypto right now.


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#2
(2016-10-15, 11:58 AM)Carsten Wrote: Here is a simple explanation about the ledger and the blockchain for Bitcoin. Full nodes are also explained.

https://bitsonblocks.net/2015/09/09/a-ge...echnology/

"The logic in bitcoin is:
  • Make it hard to generate a fingerprint that satisfies the rules of The Bitcoin Blockchain

  • Therefore, if someone wants to re-write parts of The Bitcoin Blockchain, it will take them a long time, and they have to catchup with and overtake the rest of the honest network
This is why people say The Bitcoin Blockchain is immutable (can not be changed)*.
*However, blockchains in general are not immutable.
-> Having said that, the peer-to-peer data sharing mechanism, plus the fingerprinting makes it obvious when a participant tries to alter some data, if you keep track of the fingerprints."


Regarding the immutable blockchain there is a link here https://bitsonblocks.net/2016/02/29/a-ge...ockchains/ 

Nice to have a teacher between us.
What is this thing that builds our dreams, yet slips away from us?

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