Cryptocurrency Q&A
What is a bitcoin network?
What is a bitcoin network?
amelia_doe_explorer
Sat Jul 06 2024
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5 answers
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Could you elaborate on the concept of a Bitcoin network? I'm curious to understand how it functions at its core. Is it a decentralized system? What are the key components that enable transactions and maintain security? I've heard of blockchain, does it play a role in the Bitcoin network? And how does the network ensure consensus among its participants? Clarifying these points would help me grasp the fundamentals of the Bitcoin network and its operation.
5 answers
CosmicDreamWhisper
Mon Jul 08 2024
Nodes are responsible for maintaining a copy of the blockchain, which is the fundamental ledger that records all Bitcoin transactions.
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Daniele
Mon Jul 08 2024
Some nodes store a complete copy of the blockchain, while others may only possess a partial version.
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EchoSeeker
Mon Jul 08 2024
The Bitcoin network serves as a digital ecosystem analogous to the internet's email network and the World Wide Web.
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Bianca
Mon Jul 08 2024
Akin to the interconnected web of websites, the Bitcoin network comprises a vast array of computers interconnected via the Internet.
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MysticEchoFirefly
Mon Jul 08 2024
These computers, collectively referred to as nodes, play a crucial role in the Bitcoin network.
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