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| cryptocurrency blockchain definition |
A blockchain is a decentralized digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. It is a growing list of records called blocks that are linked using cryptography.
Cryptocurrencies are digital or virtual tokens of value that use encryption techniques to regulate the creation of units and verify transactions on a blockchain. They operate independently of a central bank and are typically decentralized.
The combination of blockchain technology and cryptocurrencies has created a secure and transparent digital ledger system that allows for secure transactions without the need for intermediaries. These systems have become increasingly popular for conducting transactions securely and transparently in many different industries including finance healthcare and logistics.
Blockchains are often characterized by their immutable decentralized and transparent nature. The technology is unique in that it allows for a high degree of trust and security without requiring a trusted centralized authority. Additionally because the records are stored on a distributed network there is no single point of failure that can be targeted by cybercriminals making it highly resistant to hacking and other types of attacks.