Understanding the Basics of Blockchain: A Beginner's Guide

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A blockchain is a decentralized, distributed database that allows multiple parties to record transactions and track assets in a secure, transparent, and tamper-evident way. It is a digital ledger of transactions that is managed by a network of computers, rather than a central authority.


Each block in a blockchain contains a list of transactions, and once a block is added to the chain, the transactions it contains are considered to be permanent and unchangeable. The blocks are linked together in a chronological chain, forming a record of all the transactions that have occurred on the network. This record is secured through the use of cryptography, which ensures that it is almost impossible to alter or tamper with the data contained in the blocks.



Blockchains are used in a variety of applications, including cryptocurrency, supply chain management, voting systems, and more. They are often praised for their ability to provide a secure and transparent way for multiple parties to track and verify transactions, and for their potential to disrupt and transform a wide range of industries.

#Blockchain101 #BlockchainBasics




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