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Bitcoin Definitions

Blockchain - A transaction database shared by all nodes participating in a cryptocurrency such as Bitcoin. Blockchains were invented for the Bitcoin project but they can be applied anywhere a distributed consensus needs to be established in the presence of malicious or untrustworthy actors.

Blocks - Are simply a collection of valid transactions, a pointer to a valid previous block they build upon, and proof of it being a valid block itself.

 

 




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