The Bitcoin public ledger is a record of all Bitcoin transactions. It is a decentralized database that is maintained by a network of computers around the world.
The ledger is public, meaning that anyone can view it. However, it is not possible to modify or delete data from the ledger.
The Bitcoin public ledger is used to verify the ownership of each Bitcoin. When a transaction is made, the ledger records the sender’s and receiver’s addresses, as well as the amount of Bitcoin being transferred.
This information is then used to verify the transaction when it is included in a block.
Blocks are files that contain data about recent transactions. They are added to the end of the blockchain, which is a shared record of all blocks that have been created since Bitcoin’s inception.
Every ten minutes, on average, a new block is added to the blockchain by miners.
Miners are individuals or groUPS of individuals who use their computers to verify transactions and add blocks to the blockchain. They are rewarded with newly created Bitcoins for their efforts.
As more miners join the network, the difficulty of adding new blocks increases, and this ensures that blocks are added at a steady rate.
The Bitcoin public ledger is stored on every computer that participates in the Bitcoin network. This ensures that there is no single point of failure and that the network can continue to operate even if some computers are taken offline.