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Blockchain technology is a way to manage a ledger of documents in a decentralized manner. This means that everyone participates in maintaining and updating the ledger, making it virtually impossible to tamper with.

Although Blockchain technology is a good solution to the problem of centralization, it is also very inefficient and slow, so it should only be used if the problem at hand is indeed centralization.

This is Blockchain technology in a nutshell. If you want a more detailed explanation on Blockchain and how Blockchain technology looks at the full video, here is what I will cover:

0:54 – What blockchain aims to solve
2:48 – Bitcoin: the decentralization of money
3:10 p.m. – Decentralization opportunities
4:04 – Blockchain explained in a few words
5:16 – How blockchain technology works
10:05 a.m. – Ethereum in a few words
10:26 a.m. – Private blockchains
11:40 a.m. – Public blockchains
11:58 – Is blockchain the next big thing?
1:12 p.m. – Conclusion

For the full text guide, visit:
https://99bitcoins.com/what-is-blockchain/

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