What is blockchain?

In its most basic sense, the blockchain is just a distributed ledger that tracks the transactions of all parties. What’s interesting is its basic properties, which apply to every transaction:

  • The parties agree that the transaction has taken place
  • The parties agree on the identities of individuals involved in the transaction
  • The parties agree to the transaction time
  • The details of the transaction are easy to review and not controversial
  • Evidence of the transaction persists over time and can not be changed

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