Hello, Bro! Here’s a detailed version of the article about blockchain and cryptocurrencies. I broke it into two parts for easier reading and analysis. Let's go!
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🟥 Part 1: What is blockchain and how does it work
Imagine a huge chain of blocks — each block is like a page in a book where all transactions or operations are recorded. This chain is called blockchain. The main difference is that it is not stored on one computer but simultaneously on thousands and even millions of participants around the world. This makes the system very secure and transparent.
Blockchain is a decentralized technology that eliminates the need to trust one specific person or organization. All participants in the network have access to the same information, and any changes in the chain are visible to everyone. If someone tries to falsify data or introduce falsehoods, the system immediately detects it, because it is impossible to change information in one block without the consent of the entire network.
Each block contains a list of transactions — for example, who sent money to whom, the date, the amount, and other parameters. Once the block is filled, it is added to the chain, and the next page (block) contains a reference to the previous one, making the entire chain very reliable.
🟦 Why is this important?
Because blockchain allows for accounting and exchanging values without intermediaries — banks, notaries, or other organizations. This speeds up processes, reduces costs, and increases security. Blockchain is used not only for cryptocurrencies but also for data storage, voting, contracts, and even logistics.
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