What are the basics of blockchain in the context of cryptocurrency?

3 answers

• Dec 27, 2021 · 3 years ago
  Blockchain is a decentralized digital ledger that records transactions across multiple computers. It ensures security by using cryptographic algorithms to validate and secure each transaction. This technology eliminates the need for intermediaries and provides transparency as all transactions are visible to all participants. Cryptocurrency relies on blockchain to enable secure and transparent digital transactions.
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• Dec 27, 2021 · 3 years ago
  Okay, so here's the deal. Blockchain is like a digital database that stores transaction records. It's decentralized, which means no single entity controls it. This makes it secure and transparent because everyone can see the transactions. It's the backbone of cryptocurrency because it ensures that transactions are valid and can't be tampered with. So, if you want to understand cryptocurrency, you gotta understand blockchain.
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• Dec 27, 2021 · 3 years ago
  In the context of cryptocurrency, blockchain is the technology that powers it all. It's like the engine that keeps everything running smoothly. Blockchain ensures security by using advanced cryptographic techniques to verify and validate transactions. It also provides transparency by making all transactions visible to everyone on the network. This way, you can trust that your digital transactions are secure and reliable.
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