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A blockchain is a decentralized, distributed ledger that records transactions on multiple computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.

At its core, a blockchain is a simple data structure that stores a list of transactions. Each transaction is added to the list as a block, and each block is connected to the previous block in the list, forming a chain of blocks. This chain of blocks is what gives the technology its name: blockchain.

One of the key features of a blockchain is that it is decentralized and distributed. This means that there is no central authority overseeing the network and no single point of control. Instead, the network is made up of a large number of computers (also known as “nodes”) that work together to validate and record transactions.

One of the key benefits of this decentralized and distributed structure is that it makes the network resistant to tampering and fraud. Because there is no central point of control, it is much harder for a single actor to alter the record of transactions. Instead, any changes to the blockchain must be agreed upon by the majority of the network, making it much more secure.

Blockchains are used for a wide range of applications, including cryptocurrency, supply chain management, and voting systems. In the case of cryptocurrency, the blockchain serves as a public ledger that records all transactions of a particular digital currency, such as Bitcoin. In supply chain management, a blockchain can be used to track the movement of goods from the point of origin to the point of sale. In voting systems, a blockchain can be used to securely and transparently record and count votes.

Overall, the use of a blockchain offers a number of benefits, including increased security, transparency, and efficiency. It is a promising technology with many potential applications, and it is likely to continue to play a significant role in a wide range of industries in the future.