PinkWallet Academy Empower Your Crypto Investment

Blockchain is a crucial concept in Bitcoin, essentially a decentralized database and the underlying technology of Bitcoin. It is a series of data blocks linked by cryptographic methods. Each block contains transaction information from the Bitcoin network, used to verify information validity (anti-counterfeiting) and generate the next block. In a narrow sense, blockchain is a chain-like data structure that combines data blocks in chronological order, ensuring immutability and unforgeability through cryptography. In a broad sense, blockchain is a new distributed infrastructure and computing paradigm that uses blockchain data structure to verify and store data, distributed node consensus algorithms to generate and update data, cryptography to ensure data transmission and access security, and smart contracts composed of automated script code to program and operate data.