What is a blockchain?

It is the ledger, which is a book of financial accounts, maintained by the nodes.  When the nodes agree that at you signed the transaction to send one Bitcoin to your friend, hey write that transaction into a “block” of larger transactions. That transaction simply entails debiting one Bitcoin from your account and crediting one Bitcoin to your friend's account.

Because each block of transactions is added to the chain of blocks that came before it, a linear sequence of transactions is created, which is why it's called a blockchain. As a result, the nodes can view the transactions and credit/debit instructions that each block generates. This maintains the ledger up to date, clear, and safe from assaults like "double spend," in which a user tries to transmit one Bitcoin but, due to node confusion, can send the same Bitcoin twice.

There are numerous blockchains available. Although Bitcoin was the first, several others have since followed, making the process more efficient, affordable, and scalable. We selected to work with NEAR initially because of its dependability, environmental friendliness, speed, and cost. We will, however, become a multi-chain protocol, allowing A4R to choose which blockchain to employ at any given time.

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