Basics of the Blockchain

A blockchain is a digital version of an accounting book (or a ledger) that keeps a record of transactions and numbers.

It’s like a bank statement that shows all of your banking activity including purchases and transfers.

On some blockchains, anyone is able to see what transactions are being made and where money is being sent. But the identities of those users making the transactions are kept anonymous, and only the amounts and wallet address of each transfer can be seen.

In a later lesson, we’ll go through how they work and how the blockchain’s information stays genuine and distributed.

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