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Blockchain

Blockchain technology is a decentralized and distributed ledger that securely records transactions across a network. Its key features include decentralization, immutability, and transparency, making it suitable for applications such as cryptocurrencies, supply chain management, and smart contracts. The benefits of blockchain include enhanced security, increased efficiency, and a transparent transaction history.

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23 views1 page

Blockchain

Blockchain technology is a decentralized and distributed ledger that securely records transactions across a network. Its key features include decentralization, immutability, and transparency, making it suitable for applications such as cryptocurrencies, supply chain management, and smart contracts. The benefits of blockchain include enhanced security, increased efficiency, and a transparent transaction history.

Uploaded by

chirag.hhs.7887
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as TXT, PDF, TXT or read online on Scribd
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Blockchain Technology

What is Blockchain Technology?


Blockchain technology is a decentralized, distributed ledger that records
transactions across a network of computers in a secure and transparent manner.
Key Features of Blockchain Technology
Decentralization: Blockchain technology operates on a decentralized network,
meaning that no single entity controls the data.
Immutable: Blockchain technology uses cryptographic algorithms to ensure that once
data is written to the blockchain, it cannot be altered or deleted.
Transparency: All transactions on a blockchain are recorded publicly, allowing
anyone to view the entire history of transactions.
Applications of Blockchain Technology
Cryptocurrencies: Blockchain technology is the foundation for cryptocurrencies like
Bitcoin, Ethereum, and Litecoin.
Supply Chain Management: Blockchain technology can be used to track the movement of
goods and materials through a supply chain.
Smart Contracts: Blockchain technology enables the creation of smart contracts,
which are self-executing contracts with the terms of the agreement written directly
into lines of code.
Benefits of Blockchain Technology
Security: Blockchain technology provides a secure way to conduct transactions and
store data.
Efficiency: Blockchain technology can automate many processes, reducing the need
for intermediaries and increasing efficiency.
Transparency: Blockchain technology provides a transparent record of all
transactions, reducing the risk of fraud and corruption.

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