Now for the third part of our introductory series we look into Blockchain technology. ‘The Blockchain’ is what underlies the Bitcoin network – it is the distributed public ledger that verifies every transaction made of every bitcoin. Every 10 minutes, the ‘block’ of verified transactions is closed off and added to the chain.
It sounds a little confusing at first, but Tim Delmastro holds my hand again. Tim is a staff writer here at Ultimate Money and the producer of two crypto documentaries.