Blockchain is the technology that makes cryptocurrency possible. It is a network of distributed ledgers, called “blocks.” Transactions are logged into these ledgers. The entries in their turn are immutable — they cannot be changed or erased once they have been entered.

It helps to think of a blockchain as a spreadsheet that is copied on thousands of computers on a network. Then imagine the network updating this spreadsheet regularly on each of the computers. That’s what a blockchain is, in essence.

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