Blockchain
By CoinGecko | Updated on Mar 03, 2020
A digital ledger where data is recorded in a chronological order. In Bitcoin's case, it is a decentralized, public ledger which contains transactional information. Users can verify that transactions have occured simply by looking at the data that is publicized on the Bitcoin network.
In a blockchain, the next piece of information that will be added is always linked to a previous, already confirmed information of the blockchain through the use of a hash which describes the past content. With the hash, every block of information in a blockchain becomes referenced with one another, and cannot be easily swapped out, thereby qualifying as an immutable ledger.
Related Terms
Pay-Per-Last N Shares (PPLNS)
PPLNS system only pays miners after the pool has discovered the block. This means you'll only be compensated once the block has been discovered.
Flappening
Flappening is a term used to describe Litecoin growing bigger and becoming more valuable than Bitcoin Cash (BCH). It is spawned from the term Flippening (used when another crypto overtakes Bitcoin).
Buy/Sell Tax
On-chain buy or sell tax rate where a percentage of the tokens bought/sold will be transferred to a set address.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
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