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Blockchain technology utilizes a decentralized, distributed ledger to record transactions across many computers. Each block contains a timestamped set of transactions, and once added, it’s virtually impossible to alter the data, creating an immutable chain. This secure, transparent system is fundamental to cryptocurrencies like Bitcoin and has applications beyond finance, including supply chain management and secure data storage. Understanding blockchain involves recognizing its core principles: decentralization, immutability, and cryptographic security.
