To use cryptocurrency, you don't need to sign up for a website with an email address and password. You can download a wide variety of apps onto your smartphone to begin sending and receiving within minutes.
A blockchain is immutable: if you change a block, it changes the fingerprint. And since that fingerprint is included in the next block, the next block is changed too. And since that block's fingerprint.
Suppose that you and your friends Alice, Bob, Carol, and Dan are running the software. You might say "I want to send five coins to Bob."
Underwhelmed? That's fair. The innovation here isn't some cumbersome alternative to Google Sheets. It's that everyone can download blocks from other people on the network to build identical copies of the blockchain on their computers. That's what the software we mentioned earlier does.
There are some peculiarities with these databases. The first is that blockchains are append-only. That means that you can only add information - you can't just click on a cell and delete stuff that you've already added, or change it in any way.
“ Bitcoin provided the foundation for many other cryptocurrencies. Some were based on the same software, while others took a very different approach. Ok, but what's the difference between all the cryptocurrencies. ”
Jeremy SpivakCEO, Co-founder | Satochi