๐ What is Blockchain?
Blockchain is a decentralized digital ledger that records transactions across a network of computers. Instead of relying on a single authority (like a bank) to manage records, blockchain uses a network of participants who work together to verify and secure transactionsโbringing greater transparency, enhanced security, and deeper trust to the system.
Hereโs how it works:
๐ Blocks: Each block contains a list of transactions.
๐ Chain: Blocks are linked together, forming a secure, tamper-resistant chain.
๐ Decentralization: No single person or entity controls the blockchain. Anyone can join and contribute to validating transactions, keeping the system decentralized and secure.
๐ Transparency: Every transaction is visible to all participants.
๐ Security: Cryptography ensures that data canโt be easily changed or hacked.
๐ Blockchain is the backbone of Bitcoin, Ethereum, and thousands of other cryptocurrencies, and itโs also finding uses in finance, supply chains, and even art!
๐ก Want to learn more? Let me know in the comments!
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