Blockchain is a new technology that acts as a structure for managing information and works on concepts such as decentralization and trustless consent. Blockchain consists of a vast network of nodes or computers with the software and uses this network to verify any new incoming information using cryptography. Compared to a centralized structure or database, it is more secure, not as vulnerable to hackers or corruption, it can not be controlled by any single entity, and is publicly accessible. It has many applications to manage data but is mainly used today for cryptocurrency transactions.
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