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Blockchain

Knowledge Base / Glossary: "A blockchain is a distributed, decentralized, and immutable ledger that is used to record transactions or other information in a secure and verifiable way. It is a key technology underlying cryptocurrencies, such as Bitcoin, but it has many other..."

A blockchain is a distributed, decentralized, and immutable ledger that is used to record transactions or other information in a secure and verifiable way. It is a key technology underlying cryptocurrencies, such as Bitcoin, but it has many other potential uses and applications.

One of the key features of Blockchain is that it is distributed across multiple nodes or computers in a network. This means that the information recorded on the Blockchain is not stored in a single location, but is instead replicated and stored across the network. This makes it more resistant to tampering or censorship, as it would require a coordinated attack on the network to alter or delete the information on the blockchain.

Another key feature of Blockchain is that it is decentralized, which means that it is not controlled by any single entity or organization. Instead, it is maintained by a network of nodes that reach consensus on the state of the ledger through a process known as "mining". This decentralized structure makes it difficult for any single entity to exercise control over the network or the information on the blockchain.

Blockchain is used in a wide range of applications, including cryptocurrency, supply chain management, voting systems, and identity management. Its distributed and decentralized nature makes it well-suited for applications that require secure and verifiable record-keeping, and that benefit from the lack of a central authority.

Overall, Blockchain is a distributed and decentralized ledger that is used to record transactions or other information in a secure and verifiable way. It has many potential uses and applications, and is a key technology underlying cryptocurrencies and other applications that require secure and decentralized record-keeping.