TOPIC 6: IN SUMMARY, WHAT IS BLOCKCHAIN

Screenshot (2051) BC-EX.jpg

Ledgers– recording of txns that have taken place over a certain period of time

Nodes– different people who maintain the ledgers for transparency and trust in the network

Block– a combination of ledgers that have computed over a certain period of time

Miners– people responsible for maintaining the blocks, confirming txns in the blocks and responsible for adding the blocks in the blockchain network

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