Blockchain is a decentralized digital ledger technology that records transactions across multiple computers in a way that ensures the security, transparency, and immutability of the data. Each transaction is grouped into a block, which is then linked to the previous block, forming a chronological chain known as the blockchain. This architecture allows multiple parties to access and verify the transaction history without relying on a central authority, making it suitable for various applications beyond cryptocurrencies, such as supply chain management, healthcare, and digital contracts. The consensus mechanisms used in blockchain, like Proof of Work or Proof of Stake, help maintain the integrity of the network by ensuring that all participants agree on the state of the ledger.
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