Blockchain | B2B Finance Glossary
Aug 3, 2023 by Zazil Martinez
What is a Blockchain? A blockchain is a distributed ledger created from growing lists of records called blocks. Every time a block is updated, the entire chain of blocks gets access to that information as soon as the update is made. Most blockchains are public, so people and institutions everywhere can see transaction records across the chain. Blockchain technology is decentralized, which means it stores data across many different nodes (computers) that all make up a single network (as opposed to storing information in a single centralized location). Today, blockchains are known best for their use in cryptocurrency, such as Bitcoin and Ether, because they can maintain a decentralized and secure record of transactions. However, blockchains can be used in many cases, especially those requiring secure data storage and record keeping.
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