Blockchain is basically a mixture of existing technologies, i.e. distributed ledgers / peer-to-peer networks and cryptography, supplemented by some very smart verification mechanisms to confirm the correctness of transaction data to be stored in a sequence called ‘blocks’. To connect these blocks, they are tagged with cryptographic identifiers that refer to the previous block, thus building an immutable block-chain that is stored on all participating nodes in the P2P network.
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