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Blockchain - Coggle Diagram
Blockchain
Cryptocurrency
Mining
Checking transactions
Types
Bitcoin
Ethereum
Litecoin
Dogecoin
thousands more
Economy
Invisible/digital
Entries in a database
Not government regulated
Don need banks to make transactions
Controlled by the people
Transactions
Recording ownership of technology
Checked after transaction is complete
Confirmed by users, distributed ledger updated everywhere
safe because no single database
storing information
transferring information
Database
Decentralized
No central computer
stored on many computers
"nodes"
Details
When the transaction was made
Summaries
Identified through unique hashes
on a public network "Distributed ledger"
database with all transactions
Blocks
Can't be changed or removed
stay in blockchain forever
Available for public to see