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Blockchain technology - known as the chain of blocks, is used to store and send information about any online transactions. This blockchain is arranged in the form of consecutive blocks of data. One block contains information about a specified number of transactions. When it's full, another block is created, creating a chain. On average, a new block appears every 10 minutes, in which information about various transactions is sent. This includes commercial transactions, electricity market, transactions regarding shares or stocks, and also currency trading transactions. It all takes place outside the system functioning for centuries - without any involvement of public trust institutions (including financial institutions). Thus, Blockchain is a decentralized and distributed database in an open-source model, in a peer-to-peer network (a communication model that provides all hosts with the same rights). This technology does not have any central computers and a centralized storage location. The blockchain's purpose is to maintain a joint and collective accounting book of transactions in digital form. The blockchain cannot be faked. Blockchain transactions stored in the blocks are irreversible, and completely safe. All data is almost completely resistant to counterfeiting and various manipulations.
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