Feather coin and blockchain
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I was looking at http://feathercoin.com/ saw and liked this video http://www.youtube.com/watch?feature=player_embedded&v=I5aU79h7NKo,
Is block chain a online wallet or what is it ?
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The blockchain is - as the name implies- a chain containing all mined blocks.
Therefore it contains all Transactions and the history of all feathercoins can ve tracked back up to their generation date.
A local copy of the blockchain is held by every Wallet and the Wallet syncronizes with other wallets online, while open on a PC.
Your local wallet filters the information kept in the block chain to display only transactions involving your FTE address.
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You can think of the blockchain as a database of a shared ledger. In the p2p world, think if it as a massively distributed file that is constantly being updated. Transactions are verified by many clients, which is how one knows a transaction is valid.
Wallets are nothing more than public/private key pairs that allows one to sign the “coins” that are theirs. Sending coins to a public wallet is akin to encrypting a message to someone using their public key. Spending or moving those coins requires the private key, which is analogous to decrypting a message sent only to them. All clients that allow one to create a “wallet” only create the public/private key pair. Coins are always only “in” the blockchain file.
