What is Blockchain?
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Blockchain isn't just a fancy tech term; it's like a giant digital ledger that everyone can see but can't change. Imagine a notebook where every transaction is written down, and everyone has a copy of it. If someone tries to change what's written, everyone else will notice and reject it. Think of it like a community bulletin board where everyone posts updates. Once something's pinned up, it can’t be taken down or changed without everyone knowing. Each update is like a block, and all these blocks are connected in a chain—hence the name "blockchain." Here’s how it works: 1. You want to make a transaction, like sending money or sharing information. 2. This transaction is broadcasted to a network of computers. 3. Those computers check to make sure the transaction is valid (like checking if you have enough money). 4. Once verified, the transaction is added to the chain of blocks. 5. Everyone’s copy of the ledger is updated, so everyone sees the new transaction. This matters because it creates trust without needing a middleman, like a bank. It’s secure, transparent, and can be used for all kinds of things, from money to contracts to identity verification. Does that make sense? Want me to dive deeper into how the verification works?
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