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How Does Bitcoin Work?
Manage episode 391761361 series 3474370
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This story was originally published on HackerNoon at: https://hackernoon.com/how-does-bitcoin-work.
Bitcoin, how does it work both in technicals terms but in a way anyone can get it.
Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #bitcoin-101, #how-does-bitcoin-work, #what-is-a-blockchain, #how-are-blocks-tied-together, #what's-in-a-block, #what-is-a-merkle-tree, #how-to-get-btcs-from-mining, #is-bitcoin-a-store-of-value, and more.
This story was written by: @wasteofserver. Learn more about this writer by checking @wasteofserver's about page, and for more stories, please visit hackernoon.com.
The current trend is to dumb down the mechanics of Bitcoin behind multiple levels of abstraction. Here we explore how it actually works without generalizing too much. How are the blocks tied together? A hashing function maps data of variable size to a fixed-size value. And it's generally at this stage that you'll hear that cryptography glues it together.
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