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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

Replay Attack
A replay attack is a form of network attack when valid data transmission is fraudulently intercepted, then delayed or resent to mislead the receiver into doing what the hacker wants.
Side Chain
A separate blockchain ledger that runs parallel with the primary blockchain.
Trading Volume
The amount of the cryptocurrency that has been traded in the last 24 hours.
Wallet
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
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