Blockchain technology is a decentralized digital ledger system that records transactions across multiple computers in such a way that the registered transactions cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. Each block in the chain contains a number of transaction records, and once a block is filled, it is linked to the preceding block, forming a secure and chronological chain. This technology is characterized by its transparency, immutability, and security, making it ideal for various applications, including cryptocurrencies, supply chain management, and smart contracts. By eliminating the need for a central authority, blockchain allows for peer-to-peer interactions and enhances trust among participants by providing a verifiable and tamper-proof record of transactions.
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