What Is A Blockchain?

Basically, the blockchain is a list of transactions concerning BitCoins. The problem here is that in order to use BitCoin, you will need to download the blockchain. This can be a problem because the blockchain is so long and takes up the memory of the user’s computer. Unless you decide to save it in the cloud, there will be many users that will be unable to access their BitCoins except by leaving their wallet in the cloud. Since the blockchain has been in place since the inception of BitCoins in 2009, there is a pretty good chance that your computer will not be able to hold the Blockchain at all. Wallets can, however, be used to house the Blockchain. A better option here is to use the cloud to keep it in. Another problem, there is no central database to house this. From this perspective, there is no known regulation. The only option is the BitCoin wallet. Of course, this is one of the solutions at present, unless you want to purchase storage beyond the capacity of your computer. To sum up what a Blockchain is, think of it as the checkbook register or ledger that everyone uses when using BitCoins.