It’s a digital ledger that records all transactions made with a particular cryptocurrency. But here’s the clever part. This ledger isn’t stored in a central place. Instead, it’s distributed across a network of computers known as nodes. Each time a transaction is made, it’s added to the ledger, and all the nodes in the network update to reflect this change. This makes the system transparent and very difficult to tamper with. Now, cryptocurrencies and blockchain have a wide range of applications. They can be used to buy goods and services both online and in the physical stores. And they can also be used for more complex financial transactions like loans and contracts.
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