The Bitcoin blockchain is a decentralized digital ledger that records all transactions in the Bitcoin network. This ledger is maintained by a network of nodes, each of which holds a copy of the blockchain and participates in the validation and propagation of new transactions and blocks. The blockchain is divided into blocks, each containing a list of transactions. These blocks are linked together in a chain, hence the term "blockchain." Each block contains a unique code called a hash, which is generated by a cryptographic algorithm. The hash of each block is included in the next block, creating a chain of blocks. This linkage ensures the integrity and security of the data recorded in the blockchain. When a new transaction is made, it is broadcast to the network and grouped with other transactions into a new block. Miners then compete to solve a complex mathematical problem to validate the block. Once a block is validated, it is added to the blockchain, and the transaction is considered confirmed. The decentralized nature of the Bitcoin blockchain means that there is no central authority controlling it, making it resistant to censorship and tampering. This system also ensures transparency, as anyone can view the entire blockchain and verify transactions.
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