Blockchain (often referred to as distributed ledger technology) is a secure transactionledger database shared by all parties in a distributed network, which records and stores every transaction that occurs in the network, creating an irrevocable and auditabletransaction history. Blockchain can be considered to be a superior database where thedata and access to the data is encrypted. The distributed nature of the Blockchainmeans it has a built-in redundancy and can survive the loss of one node because themaster record is shared or mutualized.
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