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Blockchain Architecture and Components
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What is the primary purpose of a blockchain?
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A
To provide a secure and transparent way to store and transfer data.
💡 Explanation:
A blockchain is a distributed database that is used to maintain a continuously growing list of records, called blocks. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, blockchain is inherently resistant to modification of the data. This allows blockchain to serve as an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.