Glossary
Blockchain
A ledger that many computers keep in sync, with a method for agreeing on the next page.
Strip away the slogans and a blockchain is a shared notebook. Many machines keep a copy. They use a rule — work, stake, or something else — to agree which page comes next. Change an old payment and the links that follow no longer match, so honest copies ignore the broken version.
That design has costs: public history, fees when space is scarce, and upgrades that still need people to coordinate. “Code is law” was always a slogan. The ledger is rigid; the community around it is not.
See also
- HashA fingerprint of data. Change a bit, and the fingerprint changes.
- MiningMachines spending energy to propose the next Bitcoin-style block and collect the subsidy plus fees.
- Proof of stakeAgreement by locking coins, not by burning electricity on hash puzzles.
- Proof of workAgreement by spending energy on hash puzzles, as Bitcoin does.

