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Blockchain Technology

Blockchain is a digital, decentralised ledger that records transactions on multiple computers, so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.

In other words, blockchain technology allows for a secure, transparent and immutable way of recording and transferring data or value. It is most well-known as the technology behind cryptocurrencies, such as Bitcoin and Ethereum, but it has many other potential use cases, such as smart contracts, supply chain management, and voting systems.

The key features of blockchain technology are decentralization, immutability, and security. Decentralisation means that the ledger is not stored in a single location, but rather is distributed across a network of computers. This makes it difficult for any single entity to control or manipulate the data.

Immutability means that once data has been recorded on the blockchain, it cannot be altered. This ensures the integrity of the data. And security is achieved through the use of cryptographic techniques, which make it difficult for unauthorized parties to access or alter the data.

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