Ref: coinmarketcap.com Bitcoin is _________________________…

Ref: coinmarketcap.com Bitcoin is _________________________________________________. It eliminated the key problem with digital currencies in the past (you can make a perfect digital copy and “double spend”) Every transaction would be kept in an immutable ledger and the ledger would be distributed across many different computers.

  (1)_____________ are fundamentally software protocols that…

  (1)_____________ are fundamentally software protocols that allow multiple parties to operate under shared assumptions and data without trusting each other. These data can be anything, such as location and destination information of items in a supply chain or account balances of a token  Updates are packaged into “blocks” and are “chained” together cryptographically to allow an audit of the prior history, hence the name  Every block contains a hashed reference to the block before it so you can trace every transaction all the way back to genesis block Last line (hash) is repeated as the first line in the next block. This is why it is called “chain”.  (2)__________ group the current transactions together and take a hash of the transactions plus an arbitrary number – called a “nonce”. The work required to find the hash to so many leading zeros is so difficult that it makes is highly improbable that any hacker or nation-state could change a historical block and rewrite all history after that block.