KEYTAKEAWAYS
Discover the fundamentals of blockchain technology, a revolutionary distributed ledger system ensuring secure, transparent, and immutable transactions across various industries.
CONTENT
DEFINITION
Blockchain is a distributed ledger technology that enables secure, transparent, and tamper-proof transactions. It consists of a chain of blocks, each containing a record of multiple transactions. Once a block is filled, it is cryptographically sealed and linked to the previous block, forming a chain.
This structure ensures that once data is recorded, it cannot be altered without altering all subsequent blocks, which requires consensus from the network participants.
Blockchain technology underpins cryptocurrencies like Bitcoin and is used in various applications such as supply chain management, voting systems, and identity verification.
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