A blockchain is a continuously growing list of digital transactions (digital ledger) that occur within a nodal network, with the ledger being updated at regularly timed intervals in segments called “blocks” which are sequentially linked together and secured using cryptography, creating a chain of blocks – the blockchain. A blockchain is also known as a “decentralized ledger” or “distributed ledger” because each node in the network receives an exact copy of the ledger every time it is updated, so the ledger is distributed rather than centralized (like a bank’s ledger).

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