Picture a spreadsheet that is duplicated thousands of times across a network of computers.
Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.
Information held on a BlockChain exists as a shared — and continually reconciled — database.
This is a way of using the network that has obvious benefits.
The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable.
No centralized version of this information exists for a hacker to corrupt.
Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.
The Bitcoin Network is the first successful implementation of blockchain technology.
The term "blockchain technology" typically refers to the transparent, trustless, publicly accessible ledger that allows us to securely transfer the ownership of units of value using public key encryption and proof of work methods.
The technology uses decentralized consensus to maintain the network, which means it is not centrally controlled by a bank, corporation, or government.
In fact, the larger the network grows and becomes increasingly decentralized, the more secure it becomes.
The potential for blockchain technology is not limited to bitcoin.
As such, it has gained a lot of attention in a variety of industries including: financial services, charities and nonprofits, the arts, and e-commerce.
What is a Bitcoin Transactions
Every Bitcoin transaction that's sent flows into what's called the mempool (short for memory pool) before it can be confirmed by miners.
When there's a dramatic spike in transaction activity, the mempool can become congested because so many transactions are waiting to be included in the next block.
Bitcoin users across the network may notice their transactions sit as unconfirmed or pending for a longer period of time, and we understand this can cause users to be concerned about the status of their funds.
In most cases, your transactions will eventually confirm. It may just take longer than usual to do so.
How take a look up to a Transaction
Block Explorers provide a visually appealing and intuitive way to navigate a cryptocurrency's blockchain.
It began as a way for anyone to study bitcoin transactions, along with a variety of helpful charts and statistics about activity on the network.
To look up a bitcoin transaction, you can visit for example https://www.blockchain.com/explorer and use the search bar on the upper right to learn more about a particular bitcoin address, transaction hash, or block number by entering it in the search field.