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Blockchain

By CoinGecko | Updated on Mar 03, 2020
A digital ledger where data is recorded in a chronological order. In Bitcoin's case, it is a decentralized, public ledger which contains transactional information. Users can verify that transactions have occured simply by looking at the data that is publicized on the Bitcoin network. In a blockchain, the next piece of information that will be added is always linked to a previous, already confirmed information of the blockchain through the use of a hash which describes the past content. With the hash, every block of information in a blockchain becomes referenced with one another, and cannot be easily swapped out, thereby qualifying as an immutable ledger.

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Related Terms

Second-Layer Solutions
Secondary network or framework built atop an existing blockchain to address transaction speed and scalability issues.
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Bear Market
Contrary to bull market, it indicates the direction of the market going for downward trend.
Mining Contract
Another term for cloud mining, where users can rent or invest in mining capacity online.
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