Notes

https://jut-su-hd.online/

Using bitcoin to make payments is easy and inexpensive and anywhere in the world anywhere that the internet and a cell phone can reach. You can be paid to post messages or ask questions, to bid in auctions, or to participate in online voting. There is little transaction friction, allowing small and large transactions.

The blockchain is secured through bitcoin nodes that require a higher level of security with more computing power and are not easy to mine. This eliminates the need for expensive payment systems that charge transaction fees and reduces the amount of Bitcoin that can be stolen.: ch.

Because it is a decentralized network, users communicate directly with each other and then the blockchain guarantees that each transaction is legitimate and verified by the rest of the network

The blockchain as a database
The blockchain is a distributed database. In a blockchain there are many copies (nodes) of a ledger across a network, not one shared ledger.

So the copy of the record of every bitcoin transaction held by any one of the multiple nodes is an accurate record of the first owner, so can be used to identify double spending.

The blockchain acts like a file system. Every bitcoin transaction is data (the data is stored in the block), and that data is a record of that transaction, like a record of any file system.

Blockchain has a number of other uses in the operating system of Bitcoin and other cryptocurrencies and applications.

The blockchain can also be used as a code repository as well.

Sharding
Bitcoin can be sharded in that transactions can be distributed across multiple computers (nodes). This is done by using the block header to choose a validator that sends the transaction. An example is at the end of this wiki article. This is done to reduce the load on any one server to validate a transaction. This can be done for any payment transaction, not just bitcoin.

On August 4, 2013, Primecoin announced that it would use a variant of the Zerocoin protocol called CPFP to allow the redistribution of coins between peers. Zerocoin is an anonymous protocol which prevents tracking of transactions by pseudonyms on the blockchain. It is possible to use Zcoin to hide the amount and identity of coins for someone who wishes to remain anonymous. However, Zerocoin and Zcoin are designed for payments.

In 2016 it was revealed that bitcoin transactions could be expanded to process multiple transactions at once, by using a concept called sharding, which allows nodes to validate multiple transactions
My Website: https://jut-su-hd.online/