From the course: Cryptocurrency Foundations
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Blockchain: The power behind cryptocurrencies
From the course: Cryptocurrency Foundations
Blockchain: The power behind cryptocurrencies
- Blockchain, it's a term we've all been hearing about for a few years. It's clear now that it's not the same thing as Bitcoin or cryptocurrency. Blockchain is the technology that most cryptocurrencies use to enable them. The Cardano crypto, for example, is an application running on blockchain technology in a similar way as a spreadsheet application runs on Microsoft Windows or the Apple macOS. Understanding how blockchain works is not a requirement to use cryptocurrencies, the same way as driving a car doesn't require us to know how the engine works. Knowing how blockchain works at a high level will likely just gratify your curiosity. However, this knowledge is essential for anyone who plans, for example, to design, architect or develop in the crypto space. Let's start with some basics. A blockchain is a distributed digital ledger that contains time-stamped transactions. Remarkably, ledgers have been serving us well…
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