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Blockchain

The most basic definition of blockchain is a shared, digitized ledger that cannot be changed once a transaction has been recorded and verified. All parties to the transaction, as well as a significant number of 3rd parties maintain a copy of the ledger (i.e. the blockchain), which means it would be practically impossible to amend every copy of the ledger globally to fake a transaction.

Bitcoin’s success has triggered the establishment of nearly 1000 new cryptocurrencies, leading to the delusion that the only application of blockchain technology is for the creation of cryptocurrency.

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