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What is Blockchain?

Blockchain is a distributed, decentralized, public ledger. A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions.

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What is Blockchain?

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  1. Blockchain

  2. What is Blockchain? • Blockchainis a distributed, decentralized, public ledger. • Blockchain is a chain of blocks where blocks are digital information stored in a public database(the “chain”)

  3. How Does Blockchain Work? In order for a block to be added to blockchain, four things must happen: • A transaction must occur. • That transaction must be verified. • Transaction must be stored in a block. • Block must be given a hash(unique, identifying code) Once hashed, the block can be added to the blockchain.

  4. Is Blockchain Secure?

  5. Yes, Blockchain is secure: Prevents unauthorized access, use, disclosure, disruption, modification, inspection, recording or destruction of information.

  6. Advantages of Blockchain • Accuracy • Cost • Decentralization • Efficiency • Privacy • Security

  7. How can Blockchains be used in Real World? • Banks • Crypto Currency • Healthcare • Property Records • Smart Contracts • Supply Chains  • Voting 

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