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What are bitcoin blockchains used for?
I understand how they are created. But I don't understand what the actual purpose to the whole thing is. It is used for a ledger to determine who gains bitcoins and who put work into it. But what is the purpose of these hashes? Are they used for something in software? In other words, I am trying to figure out how value is created here. How does bitcoin get its value in dollars?
2 Answers
- StephenWeinsteinLv 73 years ago
The hashes are used to track who owns which ones so that they don't get stolen.
Value is not created.
Bitcoin gets its value the way that antiques or baseball cards or other collectible things do -- the value comes from what others are willing to pay for it.
