Blockchain
A distributed, tamper-resistant digital ledger that records transactions across many computers.
A blockchain is a shared database that stores records in linked blocks, each cryptographically tied to the previous one, making past entries practically impossible to alter. Because copies are held across a network rather than by a single authority, no central party controls it and the history is transparent and verifiable. Blockchain is the technology underpinning cryptocurrencies, but it also has applications in payments, supply chains, and record-keeping. Its key innovation is enabling trust between parties without a middleman. Understanding it helps separate the technology from the speculative hype around individual coins.
Example
When you send Bitcoin, the transaction is broadcast to the network, verified, and permanently added to the blockchain, visible to anyone but unchangeable.
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Related terms
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Stablecoin
A cryptocurrency designed to hold a steady value, usually pegged to a currency like the dollar or euro.
NFT (Non-Fungible Token)
A unique digital token on a blockchain that certifies ownership of a specific item, such as art or a collectible.
AI Transaction Categorization
The use of artificial intelligence to automatically classify financial transactions into spending categories based on merchant data, descriptions, and learned patterns.
Open Banking
A framework that lets you securely share your bank data with trusted third-party apps through standardized APIs.