Blockchain: Ultimate guide to understanding blockchain, bitcoin, cryptocurrencies, smart contracts and the future of money. (Ultimate Cryptocurrency Book 1)

by Mark Gates

A decentralized database built on the blockchain removes the need for centralized institutions and databases. Everyone on the blockchain can view and validate transactions creating transparency and trust.

Bitcoin is a digital currency, primarily used for payments. Bitcoin uses a one-way blockchain technology; however, the blockchain can be used to record and transfer anything of value, not just financial transactions.

With many blockchains the threshold of consensus is over 50%, if more than 50% of people on the network agree that a transaction is valid then it is accepted as valid.