Knowsome - A short course about Blockchain | general knowledge, fun facts and trivia!

Blockchain, Cryptocurrency, Double-spending and more

Blockchain

A blockchain is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

Distributed ledger

A distributed ledger (also called a shared ledger or DLT) is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions.

Distributed ledger

One form of distributed ledger design is the blockchain system, which can be either public or private.

Satoshi Nakamoto

Satoshi Nakamoto is the name used by the pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation.

Satoshi Nakamoto

As part of the implementation, nakamoto also devised the first blockchain database.

Cryptocurrency

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of units and verify the transfer of assets.

Cryptocurrency

The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Double-spending

Double-spending is a potential flaw in a digital cash scheme in which the same single digital token can be spent more than once.

Double-spending

Its cryptographic protocol used a proof-of-work consensus mechanism where transactions are batched into blocks and chained together using a linked list of hash pointers (blockchain).

Bitcoin

Blockchain analysts estimate that nakamoto had mined about one million bitcoins before disappearing in 2010, when he handed the network alert key and control of the code repository over to gavin andresen.