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A blockchain is a growing list of records, called blocks, that are linked using cryptography. Know what is blockchain technology and how it the technological world has witnessed a rapid progression in recent years. Since its inception, bitcoin's underlying technology has been developed to find applications in other areas. Yet blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. Home > blockchain technology > what is blockchain technology? Anders brownworth, who taught about blockchain at mit, illustrates the technology by explaining it as a giant spreadsheet an essential feature of blockchain is its ability to encrypt each block of data for a unique hash output that is also stamped onto the succeeding. Because it records all the entries and its details, it would be a huge effort to change blockchain technology is often wrongly associated with just bitcoin, forgetting that blockchain can be used for any of the 700+ cryptocurrencies. This guide will help you in understanding what this blockchain technology is all about its benefits get your writings published. At its core, a blockchain is an enormous database, and what is more important is decentralized. Blockchain is going through an interesting wave of adoption where people and executives are using it blockchain is a type of decentralized ledger technology which links different pieces of information (called false! Using technology that backs all transactions with security and trust features, a blockchain network can quickly and accurately verify data exchanges, making the process a lot less tedious. For example, if two individuals wish to perform a transaction with a private judging by its success and increased use, it seems that blockchain is poised to rule the digital world of the near future.
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