Learn with me: Class 1

What is a Blockchain?

The blockchain, or chain of blocks, is a revolutionary technology that allows transactions to be recorded on multiple computers so that the record cannot be altered retroactively without altering all subsequent blocks. This is because each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

Main Features:

Decentralization: Unlike traditional banking systems, blockchain does not depend on a central entity. This means that it is operated by a distributed network of nodes.

Transparency: Anyone can see the content of the blockchain, but users' personal data remains protected.

Security: Advanced cryptography ensures that information is immutable and secure.

Blockchain Applications:

Cryptocurrencies: Like Bitcoin and Sol, which are the best-known applications of blockchain technology.

Smart Contracts: Programs that run automatically when pre-established conditions are met.

Supply Chain: Improves the traceability and reliability of information throughout the supply chain.

Blockchain on Binance: Binance, one of the world's largest cryptocurrency exchange platforms, uses blockchain to offer secure and efficient transactions. The platform allows users to buy, sell and store cryptocurrencies, as well as participate in staking and farming cryptoassets.

The adoption of blockchain technology is growing rapidly in various sectors, promising a new era of transparency, efficiency and security in the exchange of digital information.

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