What is a blockchain?

What is a blockchain?

Everyone, hello and welcome. Today, we'll talk about everything you need to know about blockchain, including how it works and what it could be used for.

How does blockchain work? Blockchain is a digital ledger that keeps track of transactions in a way that is safe and open to everyone. Each block in the chain is a record of several transactions. Before they are added to the chain, these transactions are checked by a network of nodes.

What's the point of blockchain? Let's look at a simple example to see how blockchain works. Imagine a group of people who want to keep a shared record of all their transactions. Each person has a copy of the ledger, and when something new happens, they update their copy of the ledger.

But there are several problems with this plan. What if someone makes a mistake when updating their copy of the ledger? What if someone tries to cheat by messing with the ledger? To deal with these problems, blockchain uses a number of technologies and methods to make sure the ledger is correct and safe.

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