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Blockchain is a decentralized, digital ledger technology that was initially introduced to support the digital currency Bitcoin. It is a system of recording information in a way that makes it impossible to change, hack or cheat the system. Blockchain provides a secure and transparent way to store data without requiring a middleman, such as a bank or government.

The technology works by using cryptography to create decentralized and secure networks where data can be stored and exchanged. Whenever a transaction or data update is made to the blockchain, it is encrypted using complex mathematical algorithms and added to a block. Each block contains a unique code called a "hash" that is linked to the previous block, creating a chain of blocks that make up the blockchain.

Blockchain has the potential to revolutionize various industries by providing secure, decentralized and transparent systems for managing data and information. It is utilized in industries like finance, healthcare, supply chain management, and many others. Blockchain is becoming more popular for tokenization of assets and raising a capital called Initial Coin Offerings (ICOs).

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