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Blockchain 1.0

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NOTE: Previously, I wrote an introductory article on cryptocurrencies and other applications of blockchain, The article can be found here: http://twisri.blogspot.com/2017/05/summary-of-bitcoin-and-its-underlying.html. The article below builds on this by explaining the actual “nuts and bolts” of the bitcoin blockchain. Our goal is to have the reader walk away with a better, more technical understanding of the bitcoin blockchain. If the reader is not familiar with terms and concepts such as: blockchain, cryptocurrencies, distributed ledger, bitcoin mining, etc. It may be best to read the introductory article first or obtain the basic knowledge from other sources.)

Many people have a rough idea of how the bitcoin blockchain works, but few understand precisely how it works. This article intends to explain the blockchain in a clear, simple, and visual way.
Part 1 The Hash and the Blockchain [1]
Before we talk about blockchain, let’s talk about a hash [2]. The hash is the foundation of blockc…