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    Sonal Shridhar Shinde in Introduction to Blockchain Technology

    10-Feb-2023 11:01 AM


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    Bitcoin and Blockchain:

    :black_small_square:Blockchain
    The blockchain is a secure and tamper-proof distributed database technology, primarily used in cryptocurrency transactions. Each block in the blockchain contains a hash of the previous block, a timestamp, and transaction information, making it a decentralized system with no single point of attack. This decentralized nature makes the blockchain technology ideal for securely sharing valuable data and resources among multiple parties.

    :black_small_square:Bitcoin
    Bitcoin is one of the first cryptocurrencies to utilize blockchain technology for facilitating peer-to-peer payments. It operates on a decentralized network of computers, known as miners, owned by individuals and companies around the world. The Bitcoin Network is highly secure, with no possibility of double spending and protection against counterfeit bitcoins and fake transactions. Transactions processed through the Bitcoin Network are relatively low-cost compared to other popular payment gateways.
    Source: geeksforgeeks