The Simplest Bitcoin Book Ever Written
BROADCAST ~ Letting the network know you are sending bitcoin to
someone.
When you click 'Send', your wallet signs the transaction with your
private key and broadcasts it, letting all the other nodes know of
your intention to transfer value so that they can validate the
transaction.
MEMPOOL ~ A transaction waiting room
This is the 'waiting room' where validated transactions are sent
to be picked up by a miner and added to a block.
BLOCK ~ A 'page' in the bitcoin ledger
The Bitcoin distributed ledger is made up of digital 'blocks'.
Each block contains verified bitcoin transactions that keep the
global ledger accurate and current. They also contain the nonce,
a time-stamp and a hash of the previous block, all of which
contribute to the immutability of the bitcoin blockchain.
BLOCKCHAIN ~ The whole bitcoin ledger
The bitcoin blockchain, also known as the timechain, is the
distributed ledger that contains every block, and every bitcoin
transaction ever made since the Genesis block was mined by Satoshi
in 2009.