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/biz/ - Business & Finance

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12386823 No.12386823 [Reply] [Original]

Explain to me what is blockchain and how it works like I'm a 5 year old with down syndrome and I'll PayPal you $10

>> No.12386830

It’s
A
World cumputer. Can I get the 10bucks

>> No.12386831

Money on your computer
Your computer become bank

>> No.12386862

>>12386823

You and other people put real money on it and hold fake monies while someone else gets your real money. It's a circular pyramid.

>> No.12386911

>>12386823
Everyone who uses the network downloads a common ledger, like bittorrent where everyone is seeding it. Then you send bitcoins and the transaction gets added to the common ledger and all new transactions gets added to the ledger one "block" at a time.

>> No.12386922

A huge network, every change that happens gets written and distributed to every other part of the network

>> No.12386984
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12386984

it's a lot like a linked list if you're familiar with that data structure. basically, transaction data is stored in "blocks". one of the properties of the block holds the hash (address) of the last block, making it a chronological chain of blocks.

block1 has transaction details -> block2 has it's own transaction details and and is linked to block1 because it holds block1's "address" as the previous block.... etc.
something like that anyway....

>> No.12387012
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12387012

>>12386823
Explain to me what a toilet is and how it works like I'm a 25 year old pajeet with pajeet syndrome and I'll JewPal you 10 rupees.

>> No.12387059

A big box of toys that anyone can look into but can only take what is his.

>> No.12387064

>>12387012
Based and pooppilled

>> No.12387080

>>12386823
NUMBERS ARE MONEY. PAY ME.

>> No.12387382

>>12386823
It's like a book that everyone can write in, but noone can erase anything from.

>> No.12387409

its scam shit meant to seperate retard loser neets with a its too good to be true reality

now deposit, fag

https://www.paypal.me/x0042

>> No.12387425
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12387425

>>12386823
Just buy Chainlink