Understanding Blockchain and What Problems Does It Solve

What is Blockchain? This question comes up first when people hear about this new technology. The founder, Satoshi Nakamoto, is not even a real person but a pseudonym or maybe a group of people. This raises even more questions and makes it also a bit mysterious.

Blockchain allows digital information to be distributed but not copied, over the internet. In this case, it uses Bitcoin, a form of digital money, to be transferred over the online web. A Blockchain uses blocks of data which are called a chain.

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