The short answer is Yes, blockchains and Bitcoins cannot be changed.
Before diving into the topic, it is important to understand the basics of blockchain.
However, we will not get into core technical details, since it is a topic in itself.
Bitcoin is the first and major implementation of that idea.
There can be other different implementations on top of blockchain which are nowhere related to Bitcoin.
which are more interesting than Bitcoin.
In its essence, blockchain is just a distributed ledger.
This decentralization is what makes it so powerful and appealing to the common people.
Bitcoin is a crypto-currency based on blockchain that isnot regulated by anyone.
(you’re able to read more about Bitcoinhere.)
Now, what is immutability and why should you care?
In general terms,immutability refers to something that cannot be altered after creation.
Those who are from the software programming world know the importance of immutable objects.
In the context of blockchain, immutability has a similar meaning but a far greater importance.
To explain why it is so important, lets talk in concrete terms taking the example of Bitcoin.
Consequently, the immutability of the blocks holds paramount significance.
Others will use a corresponding public key to decrypt the message.
Next, your transaction goes to a pool of unconfirmed transactions.
Now, multiple people will venture to solve that puzzle.
Below is the diagram to explain it.
Note that the last transaction has a pointer to the older transaction forming a block.
Due to the nature of Bitcoin infrastructure, there can be multiple branches of the blockchain containing conflicting information.
How do you know which one to trust?
Some wallets mark the transaction in red to denote the same.
Now, our question comes again.
Is the block really immutable?
Is it possible for a malicious attacker to change the block in his/her favor?
The distribution and time-consuming nature of the process make it practically impossible for someone to do that.
But what about the already accepted block?
Is it prone to modifications?
c’mon, comment on how to improve this article.
