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Blockchain
Security
Distributed ledger maintained by consensus among network participants.
Definition
A blockchain is a distributed ledger where participants reach consensus on transaction ordering and state updates, often using cryptography and economic incentives.
In plain English
Distributed ledger maintained by consensus among network participants.
Why this matters
Why it matters: Public ledgers can make activity traceable; privacy depends on design (addresses, mixers, zero-knowledge proofs).
Example
Example: Network validates transactions and appends new blocks to the chain under consensus rules.