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To put it simply, Blockchain is an electronic ledger that can be openly shared among disparate users, creating an unchangeable record of their transactions. Each digital record or transaction is time-stamped and linked to the previous one in the thread called a block, and it allows users to participate in the ledger. Since each block is linked to a specific participant, Blockchain can be updated by a consensus between the participants in the system, and when new data is entered, it cannot be erased. Thus ensuring a secure and verifiable record of every transaction made in the Blockchain.
