Blockchain Technology

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4 Terms

1
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Blockchain

  • Ledger that tracks transactions

  • Everyone on network can maintain ledger

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Blockchain Application

Practical Applications

  • Payment Processing

  • Digital Identification

  • Supply chain monitoring

  • Digital Voting

3
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Blockchain Process

Transaction → Sent to everyone in Blockchain → Block is added to larger block → Hashed Block → Copy sent to everyone

4
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Blockchain Purpose

If any modifications get done, everyone will know data is tampered