- A blockchain is a digital ledger of transactions, shared across a network of computers.
- Transactions are signed by the sender with cryptographic proof of ownership.
- Competing miners gather transactions to form a block of transactions.
- Successful miners are rewarded by newly issued coins, creating an incentive to mine
- Once a block is added to the chain, it can't be changed or deleted
- This makes the blockchain very secure and tamper-proof
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