Introduction to Blockchain Technology
Blockchain technology is transforming the way transactions are recorded and verified. It was originally developed as the underlying technology for Bitcoin, but its potential uses go far beyond cryptocurrencies. Here’s an introduction to what blockchain is and why it matters.
What is Blockchain?
A blockchain is a distributed database or ledger that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems for maintaining secure and decentralized records of transactions.
Benefits of Blockchain
- Decentralization: No single point of control.
- Transparency: Visible to all members of the network.
- Security: Transactions are secured through cryptographic principles.
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