Definition of blockchain

in #blockchain8 years ago

What is a Blockchain?

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A blockchain is a shared digital ledger that records transactions that cannot be altered. It is the underlying technology behind bitcoin and other cryptocurrencies.

Data stored on the blockchain is tamper proof and there is no single point of failure. Once data is stored on the blockchain, it will remain there forever. The details of transfer and storage is visable to everyone.

Blockchains are politically decentralized ( no one controls it), architecturally decentralized ( no central point ), and it acts like one system.

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