This article is about, How Bitcoin chain work and how does blockchain info wallet work. Block Chain Technology is based on latest blockchain applications.
Initially, if you want to perform bitcoin transaction then you must have a blockchain wallet. So, To better understanding, read the blockchain definition given below:
The Blockchain is a technology, this blockchain technology works with a collaborate system who depends on number of servers working all over the world. The main feature of this blockchain technology, every user device is working as a server.
So, if any bitcoin transaction or blockchain address contains bitcoin value then it must have to verify at least 51% of server value. It’s mean, all over the world system who are active to transfer value they will record the value of each blockchain transaction had performed in their own system.
It’s mean, user is admin and managing values. So, nobody can cheat in this system because in banks or bank system to run the finance value. It must be active with large scale of human resource and data record syncronization.
For example: If, you want to transfer money from your one bank account to another account then you must have to know the bank account number, person, bank, bank name, bank branch and location of bank. Beyond then that user must be transfer a specific amount of value or money to that account with location limitation.
But in bitcoin transaction, if you have, blockchain info wallet then you can transfer money one place to another place in real time without delay.
What is blockchain
Initially, people try to understand about, what is bitcoin and reading blockchain news but very few real amount of information is aviable on internet. Few basic website and official blockchain releate website where you can go and know about blockchain applications.
Go to blockchain.com, bitcoin.info, www.blockchain.info. They all are official and fabulous website about blockchain bitcoin.
Block chain technology is combination of blocks of transactions who gather at one place and make system unbreakable.
Is blockchain safe
Bitcoin blockchain is worldwide system that’s why everyone asking only one question is blockchain safe. Then answer is, yes!
It’s safe and unbreakable and if in any case anyone hacked or breaked the system then only one blockchain they can break. So, blockchain lookup is very safe and more then 51% user base have to verify every transcation.
Size of bitcoin blockchain
Size of blockchain is in 10 MB or less, sometimes it will higher but the value will be approx that. So, it’s very nominal and easy to hold on server.
That’s it, in this article. Next article will be about “How blockchain wallet login work”