Can someone summarize what blockchain means for me?

(2662 reads) See also ► The Tokenization of Aza Gems: What it Means For Azaland and You   ► Fundamental Introduction to Blockchain, Web3 and Cryptocurrency  

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Loru
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I need a simple straightforward definition and explanation of what blockchain means. Any help on azaland?
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Jared
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Loru wrote: ↑April 2nd, 2024, 9:07 am I need a simple straightforward definition and explanation of what blockchain means. Any help on azaland?
FAST FACTS:
1. Blockchain is a type of shared database that differs from a typical database in the way it stores information; blockchains store data in blocks linked together via cryptography.

2. Different types of information can be stored on a blockchain, but the most common use for transactions has been as a ledger.

3. In the case of Bitcoin case, blockchain is decentralized so that no single person or group has control—instead, all users collectively retain control.

4. Decentralized blockchains are immutable, which means that the data entered is irreversible. For Bitcoin, transactions are permanently recorded and viewable to anyone.

Source: Investopedia
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. 💰
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