Blockchain is first and foremost used in the Financial sector. It’s the technology underpinned and hidden behind the creation of Bitcoin, a cryptocurrency. Blockchain is an open-source and Distributed Ledger Technology(DLT) that secures payment transactions between two parties. To bring it clear, Blockchain records or stores the origin, movement, and transaction of any value immutably. It eliminates central authority to process transactions instead all the transactions are approved by the nodes in the network. Blockchain is decentralized so all the transactions recorded in the digital ledger are shared across the network. The transactions are really fast and the histories can’t be altered.
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