Blockchain was invented in 2008 as the underlying technology behind Bitcoin by Satoshi Nakamoto, who remains anonymous to this day. The breakthrough of blockchain was that it allowed digital information to be distributed but not copied, which solved the key problem of previous electronic systems: double spending. A blockchain is essentially a digital ledger of transactions that is distributed across a network of computers. Each transaction is verified by the consensus of the network before it is added to the chain, making it near impossible to tamper with. This decentralization of data makes it incredibly secure, as there is no one point of failure. Moreover, Because each block is timestamped and linked to the previous one, it is also very difficult to remove or alter a transaction once it has been added to the chain. For these reasons, blockchain has been heralded as a breakthrough in trust and security.
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