Blockchain is a revolutionary technology that underpins cryptocurrencies like Bitcoin and many other applications. It is a decentralized digital ledger that records transactions in a series of blocks, which are linked together in chronological order to form a chain. Each block contains a list of transactions, a timestamp, and a cryptographic hash of the previous block, ensuring the integrity and security of the data. Once recorded, the information in a block cannot be altered without altering all subsequent blocks, which requires consensus across the network, making the blockchain highly resistant to tampering and fraud. This technology enables trustless and transparent transactions, reducing the need for intermediaries and providing a foundation for various innovations, including smart contracts, supply chain tracking, and secure voting systems.
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