Blockchain is a digital system for storing and exchanging information securely and transparently, without the need for an intermediary (like a bank or central authority).
Let me explain it step by step 👇
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⚙️ 1. The Basic Idea
Imagine a ledger (like a bank ledger), but this ledger:
Is distributed across thousands of computers around the world.
It cannot be manipulated because every operation (transaction) is recorded in an encrypted manner.
Everyone has a copy of it, and thus there is no central authority controlling it.
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🧱 2. The Meaning of the Word Blockchain
The word consists of two parts:
Block: Contains a set of transactions.
Chain: Each block is linked to the previous block by a "hash" (encrypted signature).
This means that each block contains the fingerprint of the previous block, forming a connected and secured chain.
🔗 A Simple Example:
Block 1 → Block 2 → Block 3 → Block 4 ...
If someone tries to change information in Block 2, the hash changes, and the entire chain becomes invalid,
thus the manipulation is detected immediately.
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💰 3. What is it Used For?
Blockchain is the foundation for many technologies such as:
Digital currencies (like Bitcoin and Ethereum)
Smart contracts
Electronic voting systems
Supply chains (tracking products from source to customer)
Secure digital identity
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🔐 4. Features
✅ Transparency: Anyone can see the operations.
✅ Security: It's very hard to manipulate or hack.
✅ Decentralization: There is no control from a single entity.
✅ Trust between