What is a Blockchain network?

The blockchain protocol is a system devised by Satoshi Nakamoto whose operation is explained in a scientific document published in 2008 under the name “Bitcoin: a Peer-to-Peer electronic cash system”.

04 que es una red blockchain

Blockchain systems are executed by Peer-to-Peer networks, which are an alternative with greater resistance to censorship than systems based on the classic “Client and Server” dynamics used by payment processors that lack a central authority. These networks are often also called “Blockchain networks”, since their operation depends on the correct implementation of this protocol.

In the same way, the transaction records stored by the participants of the Cryptocurrency network are often called “Blockchain”, which in practice are equivalent to transparent and decentralized ledgers.

Note: The entire operation of the Blockchain protocol is based on the use of the Cryptography as a substitute for trust in a central authority for the verification of content based on a chain of blocks.

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In Ccoins, being a multi-Crypto platform, it has various networks through which transactions are carried out, in the case of transactions made in Bitcoins, the main Bitcoin network is used, for transactions made in Ethereum, Tether, USD Coin and DAI it is done use of the Ethereum main net.

No, one of the fundamental characteristics of a Cryptocurrency is that it always has its own Blockchain Network, as is the case with Bitcoin or Ethereum. All those digital currencies that operate or use the chain of blocks of another Cryptocurrency are called tokens.

Blockchain networks are used when depositing your Cryptocurrencies in your Ccoins account or when you are going to send or withdraw your Cryptocurrencies to another external Ccoins wallet.

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