⛓️What is blockchain

Blockchain is a distributed database that allows a network of computers to reach consensus on the state of its records. It is a decentralized system that allows multiple parties to record, verify, and share transactions without the need for a central authority. At its core, a blockchain is a data structure that consists of a chain of blocks, each containing a list of transactions. These blocks are linked and secured using cryptography, and each block contains a unique code, called a "hash," that distinguishes it from every other block in the chain.

One of the key features of blockchain technology is its ability to provide a secure and transparent record of transactions. Because blockchains are decentralized and distributed, it is virtually impossible for a single entity to alter the data stored on the chain without the consensus of the network.

In addition to providing a secure and transparent record of transactions, blockchain technology also has the potential to significantly reduce transaction costs of currency conversion for international payments and central entity fees.

Blockchain's application as a payment solution is transforming the way transactions are conducted, offering a secure, transparent, and truly connected method for the exchange of goods and services in the global market.

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