A beginners Guide to Cryptocurrency : CryptoCurrency
Exactly what is a blockchain?
It's an “immutable ledger.” Consider it just like a book that lives on the horizon. Each time something changes, its written lower with magic ink, that whenever dries, never changes. And there are millions of copies of those books, all getting updated simultaneously. If your are ever messed with, another books would eliminate the issue and change it using the correct entry.
What's evidence of Work?
First generation crypto currency labored of the idea of Poof of labor. There, it's a race to resolve an elaborate math puzzle, and carry out the block write operation. And in exchange get gold coin. “Mining.” Mining is slow. Bitcoin are only able to do 7 transactions one minute.
From the thousands of machines available racing to win the following block, ...