Bitcoin Blockchain Explained
The blockchain is the foundation of Bitcoin. Understanding it helps you understand why Bitcoin is trustworthy.
Buy Bitcoin in Canada →What Is a Blockchain?
A blockchain is a public ledger — a record of every Bitcoin transaction ever made — that is:
- Distributed: Stored on tens of thousands of computers worldwide simultaneously
- Immutable: Once recorded, transactions cannot be altered or deleted
- Transparent: Anyone can view the full history at any time (blockchain explorers like mempool.space)
- Decentralized: No single company, country, or person controls it
Every 10 minutes, a new "block" of transactions is added to the "chain." Hence: blockchain.
How a Bitcoin Transaction Works
1
You broadcast a transaction from your wallet (e.g., "send 0.001 BTC to this address")
2
Miners collect transactions and compete to add the next block
3
The winning miner adds your transaction to the blockchain
4
After 1–6 confirmations (~10–60 minutes), your transaction is considered final
5
It is now permanently recorded and cannot be reversed
Why the Blockchain Matters
No double-spending. Before Bitcoin, digital money could be copied. The blockchain solved this: once Bitcoin is sent, the ledger records it publicly.
No middlemen required. Banks exist to maintain trusted records of who owns what. Bitcoin's blockchain does this automatically, publicly, and without permission.
Transparency. You can verify any transaction. You can verify how much Bitcoin exists (currently ~19.7 million of 21 million).
Verifying Your 1Bitcoin.ca Transaction
1
Copy your receiving address
2
Enter it at mempool.space
3
See your Bitcoin confirmed on the public ledger
No trust required — you can verify it yourself.
Buy Bitcoin at 1Bitcoin.ca →