** Watching individual bitcoins: Is there a way to follow the way of one coin?
As the popularity of cryptomena continues to grow, many enthusiasts have asked whether it is possible to follow individual coins beyond their transactions. In this article, we will examine whether there are ways to follow the path of the whole bitcoin or the Satoshi Nakamoto coin, and what consequences could have it to develop future cryptocurrencies.
Understanding bitcoin transactions
Before you dive into the question of tracking individual coins, it is necessary to understand how transactions work on Bitcoin’s blockchain. Each block in the bitcoin network contains a list of transactions where each transaction consists of a sender (address), recipient (address), amount and other details. These transactions are connected through the unique cryptographic feature of the hash, known as the “hash chain” that creates a permanent record of all transactions.
** Can we watch an individual coin?
The short answer is: No, it is not possible to follow an individual bitcoin or Satoshi coin in real time. Blockchain is a decentralized, unchangeable book that contains every transaction ever made in the Bitcoin network. This means that as soon as the block is formed and added to the chain, there is no way to change or change its contents.
However, we can watch “blockchain bread crumbs” – the sequence of the blocks that led from one transaction to another. By examining the block chains of the topic, we can reconstruct the road of a single coin over time.
Reconstruction of the road
To reconstruct the path of a particular bitcoin, we would need access to the entire history of the blockchain until it was mined (block 1). This would include:
1.
- Block Selection : Selection of individual blocks that contain transactions relevant to the desired coin.
3.
Calls
There are several reasons why monitoring individual bitcoin is not possible:
- Decentralization
: Blockchain is decentralized and resistant to unauthorized handling.
- Unacceptable : Once the block is created, it is not possible to change or delete its contents.
- Large size : Blockchain data may be extremely large (eg blockchain bitcoin contains more than 200 million transactions).
- Time -consuming
: Reconstruction of the individual coin path would require considerable computing sources and time.
Future cryptocurrency
It is currently not possible to monitor individual coins, emphasizing the importance of decentralized storage solutions for cryptocurrencies. They can help reduce the need to store large amounts of data on the central server, increasing more resistant to censorship or attacks.
In the future we can see progress in:
- Decentralized data storage : More efficient and safer methods for data on blockchain interference.
- Verification of Blockchain -based identity : safely identify individuals without relying on the traditional KYC processes (knowledge of your customer).
3.
Conclusion
While monitoring individual coins is not possible because of the decentralized and unchanged nature of blockchain, it is an interesting idea for future research and development. When the cryptocurrency space is constantly evolving, we can see innovations that deal with these challenges. Meanwhile, enthusiasts will have to rely on tools like blockchain.com or Ethercan to reconstruct the path of their favorite coins.
Sources:
- [Blockchain.com] (https: //www.blockchain.