Muhammad_Abid03
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What is Blockchain Technology?
šBlockchain is a decentralized, distributed ledger technology that records transactions across many computers in such a way that the registered transactions cannot be altered retroactively. It was originally developed to support the cryptocurrency Bitcoin, but its applications go far beyond digital currencies.
---
Key Features:
1. Decentralization: No single central authority controls the data; instead, it is shared across a network of nodes.
2. Transparency: All participants can see the transactions stored in the blockchain, ensuring accountability.
3. Immutability: Once data is added to the blockchain, it cannot be changed or deleted, ensuring security and trust.
4. Consensus Mechanisms: Blockchain relies on algorithms like Proof of Work (PoW) or Proof of Stake (PoS) to validate transactions.
---
How it Works:
1. A transaction is requested.
2. The transaction is broadcast to a peer-to-peer network of computers (nodes).
3. The network validates the transaction using a consensus algorithm.
4. Once validated, the transaction is combined with others to form a block.
5. The block is added to the existing chain of blocks (hence, "blockchain").
6. The transaction is complete and permanently recorded.
---
Applications of Blockchain:
Cryptocurrencies (e.g., Bitcoin, Ethereum)
Smart Contracts (self-executing contracts)
Supply Chain Management
Healthcare Records
Voting Systems
Banking and Finance
---
Conclusion:
Blockchain is transforming how data is stored and transactions are processed, promoting trust, efficiency, and security across various industries.
Let me know if you'd like this simplified further or expanded into a full article or presentation
What is Blockchain Technology?
šBlockchain is a decentralized, distributed ledger technology that records transactions across many computers in such a way that the registered transactions cannot be altered retroactively. It was originally developed to support the cryptocurrency Bitcoin, but its applications go far beyond digital currencies.
---
Key Features:
1. Decentralization: No single central authority controls the data; instead, it is shared across a network of nodes.
2. Transparency: All participants can see the transactions stored in the blockchain, ensuring accountability.
3. Immutability: Once data is added to the blockchain, it cannot be changed or deleted, ensuring security and trust.
4. Consensus Mechanisms: Blockchain relies on algorithms like Proof of Work (PoW) or Proof of Stake (PoS) to validate transactions.
---
How it Works:
1. A transaction is requested.
2. The transaction is broadcast to a peer-to-peer network of computers (nodes).
3. The network validates the transaction using a consensus algorithm.
4. Once validated, the transaction is combined with others to form a block.
5. The block is added to the existing chain of blocks (hence, "blockchain").
6. The transaction is complete and permanently recorded.
---
Applications of Blockchain:
Cryptocurrencies (e.g., Bitcoin, Ethereum)
Smart Contracts (self-executing contracts)
Supply Chain Management
Healthcare Records
Voting Systems
Banking and Finance
---
Conclusion:
Blockchain is transforming how data is stored and transactions are processed, promoting trust, efficiency, and security across various industries.
Let me know if you'd like this simplified further or expanded into a full article or presentation
$NEIRO wait until it break the triangle
if it break up it will go to moon or if it break down it will result in a big dump
don't loss your hard earn money
wait till clarification
$DYOR
if it break up it will go to moon or if it break down it will result in a big dump
don't loss your hard earn money
wait till clarification
$DYOR
See original
$FRONT 1.20 is the Strong support and 1.42 is the resistance
DYOR.
DYOR.
$BTC Argent Alert š„
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