Can someone give me a quick explanation as to what a blockchain

No one here can.

>>2657566
Go on the wiki page for Bitcon and they have a good video that explains how it works

https://bitcoin.org/bitcoin.pdf

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>>2657619
no one here actually knows what blockchain is, they only speculate and trade.

>>2657566
No one knows how it works. It was created by the Illuminati.

>>2657566

https://www.youtube.com/watch?v=1kp15UrRtQs&t=1s

>>2657566
you mean this thing actually does something...

>>2657723
Does it matter?
How many successful stock traders actually understand the computer science behind how the exchanges operate?

>>2657566

it's literally magic

it will take even better magic to break it


>>2657566
if you are being serious it is a distributed ledger that stores its data using strong cryptography

>>2657746
I'd say most traders understand what the stocks do that they're buying. You wouldn't buy horse breeder stocks just as automobiles were coming out, because you know exactly what those horse breeders are doing and why automobiles would put them out of business.

Anders.com has great explanations of how the blockchain works, you should watch their videos

>>2657773
>he longed auto and didn't short carriages

JUST

>>2657566
>>2657566
It's some encryption method computer programming shit.

All you need to know is Bitcoin will replace fiat currency by 2020 and each coin will be worth trillions in what is considered """"money""" in todays ignorant world.

>>2657790
>not doing both

>>2657566
a blockchain is this:

the easiest way to get rich without putting in effort. You just need about 1000-2000 dollar to put in at first in this stage. literally suck cock if you have to, but get this money and put in BTC and ANS

>>2657867
https://en.wikipedia.org/wiki/List_of_defunct_automobile_manufacturers_of_the_United_States

>>2657879
>not longing ford

>>2657918
http://www.autonews.com/article/20030616/SUB/306160730/henry-ford-never-wanted-his-company-to-go-public

>By comparison, General Motors stock had been traded on the New York Stock Exchange for almost 40 years when Ford went public on Jan. 17, 1956.

why didn't you just type that into google?

>>2657566
It's basically like snake lego.

>>2657714
>>2657714
> why not link to the real original whitepaper instead of the edited false shitepaper
Bitcoin.com/Bitcoin.pdf

>>2658153
>bitcoin.com

Get out, Roger

They come from Turkey. You put them in the ground before winter. Spring: bam beautiful flowers.
You do want to have these flowers dont you?

Some people think it's like a big truck. But it's not. It's a series of tubes.

>>2658164
Fuck you posting your edited shitepaper.
Get out maxwell

>>2657566
i dont really understand it but i just bought some eth and ive been making some money off it

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>>2657566
I tried to explain main aspects of a blockchain here

https://youtu.be/w3sI8WVX-ccw

>>2657566
A blockchain is just a decentralized database - that's it. There's nothing magical or revolutionary about the blockchain itself. In fact, the blockchain, when compared to traditional database architectures is quite bad: it's slower, it's wasteful, and it doesn't scale.

What's interesting about blockchains is their creation of digital assets (coins) which can have value in the real world. These assets live outside the control of governments and banks and allow full autonomy over one's own money.

Vanilla applications of blockchains are largely vaporware. Don't be fooled. Blockchains are actually TERRIBLE, their single redeeming quality is DECENTRALIZATION which is only useful for non-compliance. Not necessarily criminal activities but the freedom to not comply.

How do they work?

Essentially there is a "file" floating around which lists all addresses and their balance. When you want to make a transfer you form a message like:

"i'm account #12345 and I want to send 50 coins to #333 - signed 8947238974238974"

Signatures are generated using your private key and are message-specific, so they can't be reused.

The network will verify you have the funds, check your signature, and then add your request to the pool of pending transactions. Because the network is p2p we can't immediately update the file otherwise we'd have multiple versions floating around and would allow us to double-spend funds.

Instead, updates are carried out all at once by a single node in a "block". To protect the network from malicious/spam updates a new "block" must come with the solution to a random math problem. This problem can only be solved by trial-and-error so if someone has a correct solution we know they used a lot of resources to get it. All the nodes race to find this solution since adding a new block to the file rewards them with newly created coins and fees from all included transactions. This is the "mining" process and ensures the integrity of the database.

>>2657723
i do actually.

>>2658857
So no mining no blockchain??

Mining is what keeps this thing going??

>>2659850
Correct.

>>2660447

So the ERC20 tokens all use the Ethereum networks hashrate to maintain their blockchains?

>>2660496
ERC20 tokens don't have their own blockchain. They are all maintained by the Ethereum blockchain.