Blockchain can be a decentralized digital ledger engineering that documents and verifies transactions in a secure, clear, and immutable way. Compared with conventional databases that keep information and facts inside a centralized spot, blockchain organizes facts into blocks joined chronologically to form a sequence.
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Good contracts are self-executing contracts the place the terms on the agreement are published in to the blockchain. When predefined disorders are satisfied, these contracts automatically execute actions, such as payments or arrangement conditions.
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