Blockchain and Cryptocurrency (e.g., Bitcoin)

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Blockchain technology is a decentralized digital ledger that securely records transactions across a peer-to-peer network. It is immutable, meaning data cannot be altered once recorded, which ensures transparency and trust among users. Blockchain's decentralized nature eliminates the need for intermediaries, allowing secure transactions without central authorities. It has various applications beyond cryptocurrency, including supply chain management and healthcare. Cryptocurrencies like Bitcoin utilize blockchain to facilitate secure, decentralized transactions. Bitcoin, the first cryptocurrency, operates on its own blockchain, enabling users to send and receive funds without intermediaries. Cryptocurrencies use cryptographic techniques to verify transactions and control monetary unit creation. Blockchain and cryptocurrency together have introduced new financial systems and transaction methods, offering security, transparency, and efficiency.