Blockchain network ?

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15 Jan 2024
3

"Blockchain network," usually refers to a database containing data that is shared and securely stored on a distributed network of a number of computers (nodes). This database consists of interconnected data structures called blocks. Each block contains the data of the previous block and is linked together by a cryptographic link, forming a chain. This structure makes it very difficult to change data and creates transparency and trust in the system. The blockchain network is an application of distributed ledger technology. This technology is a system where data is stored and updated at many points in the network, rather than at a single central authority. The blockchain is used to securely store, transfer and verify this data. Blockchain technology, one of the most well-known application areas of which is the basis of cryptocurrencies (e.g. Bitcoin), has been used in many other sectors over time. In finance, healthcare, logistics, energy and many other sectors, the use of blockchain technology is increasing to provide data security and transparency.

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