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“Blockchain is a technology that enables secure and transparent transactions without the need for intermediaries such as banks. It is a decentralized ledger that records transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network1.
Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units2. They are built on blockchain technology and are decentralized, meaning they are not controlled by any government or financial institution2.
While blockchain technology has many potential applications beyond cryptocurrencies, it is still in its early stages of development and adoption. It is unclear whether blockchain will become the future of currency or not. However, it is clear that blockchain technology has the potential to revolutionize many industries by enabling secure and transparent transactions without intermediaries”