monero-site/resources/moneropedia/blockchain.md
QuickBASIC 5d434aa4f7 minor spelling/grammar revisions
* grammar:
    * a/an
    * repeated words
    * fragmented sentences
    * possesion
    * run on sentences
    * commas for prepositional phrases
    * is/are conjugations
    * was/were
    * its/it's
    * capitalizing proper nouns (Monero, Bitcoin, etc)
    * formatting (removed linefeeds in middle of sentences)
    * can not/cannot
    * removed commas improperly before conjunctions
* spelling:
    * programmatically
    * hashrate
    * transferring
    * scalability
    * separate
    * transactions
    * additionally
    * particular
    * profitability
    * recommended
    * explicitly
    * separator
    * block
    * drawback
    * favorite
* spelling (br/us)
    * internationalization
    * specialized
    * analyze
    * centralized
    * decentalized
    * memorizing
    * synchronization
    * synchronized
2017-08-26 13:56:28 -04:00

13 lines
1.1 KiB
Markdown

---
layout: moneropedia
entry: "Blockchain"
terms: ["blockchain", "blockchains"]
summary: "a distributed ledger of all transactions both past and present, without revealing who the funds came from or went to"
---
### The Basics
A @blockchain is a distributed database that continuously grows with a record of all of the transactions that have occurred with a given cryptocurrency. This database is often referred to as a ledger because the data contains a large list of transactions that have taken place. In Monero, these transactions are packaged together into 'blocks' every 2 minutes (on average) and all miners and nodes on the network have copies of these blocks.
### Monero's @Blockchain
Unlike Bitcoin and other cryptocurrencies, transactions in the Monero @blockchain do not reveal where funds came from or went to, providing anonymity and making the currency completely @fungible. Additionally, the amounts of all transactions are hidden by @RingCT, a feature of Monero. For auditing or other transparency purposes a user can share a @view-key to prove they control certain amounts of @Moneroj.