The Bitcoin Blockchain is a distributed digital ledger that records all Bitcoin transactions. It operates as a public, immutable database secured by cryptographic principles and maintained by a network of nodes. New transactions are grouped into blocks, verified by miners, and then added to the chain in a chronological sequence. This system provides a transparent and censorship-resistant method for value transfer without intermediaries.
Context
Current news frequently discusses the Bitcoin Blockchain’s scalability limitations and ongoing efforts to develop layer-2 solutions like the Lightning Network. Its environmental impact due to energy consumption in mining also remains a key debate. Future developments include potential protocol upgrades and its continued acceptance as a global store of value. The network’s security and transaction processing capabilities are constantly under scrutiny.
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