Meaning of Blockchain
A blockchain is a data system that allows for the creation of a digital ledger of transactions on a non-centralized network.
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Cryptography is the main operator that allows for users to engage with the ledger without the need for any central figurehead.
In layman’s terms, this means that people and computers all over work together to create a network instead of a network being made by one single person or company. This network is enabled and protected through cryptography! We have seen this used in currency, data transfer and on.
The blockchain is comprised of “blocks” and is constantly growing as each new record, datum, or block is added onto the chain for everyone to see.« Back to Dictionary Homepage With 1,000+ Crypto Terms