What is a blockchain in crypto?

A blockchain is a decentralized and distributed digital ledger that records transactions across multiple computers. It consists of a chain of blocks, where each block contains a list of transactions. The blocks are linked together in a chronological order, forming a continuous chain of data. The blockchain is designed to be secure, transparent, and tamper-resistant.

One key feature of blockchain technology is its consensus mechanism, which allows multiple participants to agree on the validity of transactions without the need for a central authority. This ensures that the ledger is reliable and trustworthy.

Blockchain technology has revolutionized the crypto industry by providing a transparent and secure way to verify and record transactions. It has many use cases beyond cryptocurrencies, such as supply chain management, voting systems, and decentralized finance.

Last updated 10/20/2023, 1:38:17 PM



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