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In the next section, we're going to talk about the technology that the vast majority of digital currencies are based on, known asDon't be spooked by the technobabble that people use to describe "blockchain." A blockchain is just a database. It isn't a particularly sophisticated one, either - you could create it in a spreadsheet with minimal effort..
The second is that each entry in the database is cryptographically linked to the last entry. In plain English, each new entry must contain a sort of digital fingerprint of the last one. And that's it! Since each fingerprint points back to the last one, you end up with a chain of blocks. Or - as the cool kids like to call it - a blockchain.: 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... well, you get the idea. You end up with a domino effect where any change becomes evident. You can't alter any information without everyone noticing.
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." So you send that instruction to everyone else, but the coins aren't sent to Bob immediately. Carol might decide at the same time to send Alice five coins. She also sends her instruction out to the network. At any time, a participant can gather up the pending instructions to create a block.It probably seems very attractive to you to create a block that says "Bob pays me a million coins." Or to start buying Lamborghinis and fur coats from Carol by making transactions with funds you don't own., the system prevents you from spending funds you shouldn't be able to spend.
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