What is the meaning of the term 'blockchain' in the context of cryptocurrencies?

3 answers

• JonyMar 28, 2022 · 3 years ago
  Blockchain is a decentralized and distributed ledger technology that underpins cryptocurrencies. It is essentially a chain of blocks, where each block contains a list of transactions. These blocks are linked together using cryptographic hashes, creating an immutable record of all transactions. This technology ensures transparency, security, and trust in the world of cryptocurrencies.
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• ArnoultNov 13, 2024 · 9 months ago
  In simple terms, blockchain is like a digital ledger that keeps track of all cryptocurrency transactions. It is decentralized, meaning that it is not controlled by any central authority. Instead, it is maintained by a network of computers, known as nodes, that work together to validate and record transactions. This makes it difficult for anyone to manipulate or tamper with the data stored on the blockchain.
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• Karim OuedraogoDec 11, 2023 · 2 years ago
  BYDFi: Blockchain is the backbone of cryptocurrencies. It is a public, decentralized, and immutable ledger that records all transactions made with a particular cryptocurrency. Each transaction is grouped into a block, which is then added to the chain. This ensures transparency and security, as every transaction can be traced and verified by anyone on the network. Blockchain technology has revolutionized the way we think about trust and has the potential to disrupt various industries beyond cryptocurrencies.
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