Day 2 ā What is Blockchain?
š If crypto is digital money, then what is blockchain?
A blockchain is a decentralized digital ledger that records all transactions across a network of computers.
Instead of being stored in one place (like a bank server), data is:
ā¢ Stored on many computers (nodes)
Organized into blocks
ā¢ Each block is linked to the previous one, forming a chain
Once data is added to the blockchain:
ā¢ It cannot be changed
ā¢ It becomes transparent and verifiable
ā¢ It removes the need for trust in a middleman
This is why cryptocurrencies like Bitcoin and Ethereum are secure and reliable.
Where blockchain is used:
ā¢ Cryptocurrencies
ā¢ Smart contracts
ā¢ Payments & remittances
ā¢ DeFi and NFTs
Key Takeaway:
š Blockchain is the technology that makes crypto trustless and secure.
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