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Coin Market Blockchain use in the cryptocurrency

Coin Market Blockchain


A blockchain,originally block chain,is a continuously growing list of records, called blocks, which are connected and secured using cryptography.

Just a simple general knowledge about Blockchain

Each block ordinarily contains a cryptographic hash of the previous block,a timestamp and transaction data.By design, a blockchain is inherently resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”.For use as a distributed ledger, a blckchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks.
Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.
The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending issue without the need of a trusted authority or central server. The bitcoin design has been the motivation for other applications.


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