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Introduction to Blockchain

A blockchain is an encrypted, immutable ledger that continuously generates new “blocks” filled with data. The chain evolves using complex algorithms. Data can be stored on a blockchain, which keeps a permanent record of all transactions that have ever interacted with it, as well as the date and time they occurred. Transactions are finite, verifiable, and thought of as much more secure than traditional ledgers. What attracts people and businesses to blockchain is its “trustlessness”. Since no central human authority (such as a bank or government) has control over the ledger, it removes human error and foul play from the list of possible outcomes. The blockchain has set the precedent for many other applications and industries that may be streamlined and made more dependable using blockchain technology.