Week 8


Blockchain is a decentralized digital ledger that records transactions across multiple computers so that the record cannot be altered retroactively. Each record, or block, is linked to the previous one, forming a chain. This technology ensures transparency and security, as every transaction is verified by network consensus and is immutable.


For example, in a blockchain-based payment system, when you make a payment, the transaction is broadcast to a network of computers (nodes). These nodes verify the transaction, and once confirmed, it is added to a block. This block is then added to the chain of previous blocks, making the transaction a permanent part of the ledger that cannot be altered. 

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