The bitcoin blockchain uses a proof-of-work algorithm to validate transactions and add them to the blockchain. The algorithm used is called Hashcash, which was originally designed to prevent denial-of-service attacks.
Other related questions:
Q: Which algorithm is used by Bitcoin?
A: Bitcoin uses a proof-of-work system to ensure that new blocks are created in a decentralized manner.
Q: What blockchain does BTC use?
A: Bitcoin uses a blockchain that is a public ledger of all Bitcoin transactions.
Q: What is block chain algorithm?
A: Blockchain is a distributed database that maintains a continuously growing list of records called blocks. Each block contains a timestamp and a link to a previous block. Blockchain is used to secure transactions by timestamping them and including them in the block chain.
- Consensus Mechanism (Cryptocurrency) – Investopedia
- Cryptocurrency for Dummies: Bitcoin and Beyond – Toptal
- What algorithm does Bitcoin solve? – Quora
- Bitcoin Algorithm Explained – Mycryptopedia
- Top most used mining algorithms in blockchain
- How Bitcoin Uses Cryptography | River Financial
- What Is Bitcoin Mining: How Does It Work, Proof … – Simplilearn