Blockchain: The Technology Behind Cryptocurrencies Explained 🔗
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Imagine a digital ledger that is public, transparent, and shared by thousands of computers around the world. Instead of being a normal book, its pages (called "blocks") are linked together, creating a chain.
How does a Blockchain work?
Every time a transaction occurs (for example, someone sends Bitcoin), that information is grouped into a "block" with other transactions. When the block is full, a unique cryptographic code is added that links it to the previous block. Once the block is verified by the network, it is added to the chain and becomes a permanent and immutable part of the record.
This structure has three revolutionary characteristics:
Decentralization: The ledger is not on a single computer or in a central bank, but is distributed across thousands of computers (nodes) around the world. This makes it almost impossible for a single entity to control or manipulate it.
Immutability: Once a transaction is added to the blockchain, it cannot be changed or deleted. If someone tries to alter a block, the link with the rest of the chain would break, and the network would reject it. This generates an unprecedented level of trust.
Transparency: Anyone can see the complete history of transactions on the network. Although the identity of users is often anonymous, each transaction is visible and verifiable.
In summary, blockchain is a technology that allows us to trust data and transactions without needing to trust a centralized entity, as security is based on cryptography and the network of computers that support it.
