what is a blockchain protocol

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A Blockchain Protocol runs on top of the Internet. It is a P2P network that consists of many computers that each run the protocol. They all have identical copies of the ledger. This allows P2P value transactions to be made without the need for a middleman.

 

What are the three main blockchain protocols?

There are three types of blockchain: consortium blockchain, public blockchain and private. [2]. Each type of blockchain is suited to different applications. So, the adopted consensus protocol must meet specific application requirements.

 

What is the difference between a protocol and a blockchain?

A blockchain network is the blockchain ledger and all contributors to it; a protocol is the rules that govern the network. Although these terms might seem interchangeable, they are not meant to be.

 

Is Bitcoin a blockchain protocol?

It is important to remember that Bitcoin Blockchain is used only to transparently record a payment ledger, but it can theoretically be used to immutably store any number of data points.

 

How do I create a blockchain protocol?

 

What protocol does bitcoin use?

The main bitcoin run the network bitcoin P2P protocol is made up of between 7,000 to 10,000 listening nodes, running different versions of the protocol. bitcoin Referring clientBitcoin Core) and several hundred nodes that run various implementations of the bitcoin P2P protocol such as BitcoinJ and Libbitcoin.

 

 

 

 

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