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Blockchain is a decentralized and transparent digital ledger that records and verifies transactions across multiple computers or nodes. It allows for secure, trustworthy, and decentralized transactions without relying on a single authority or intermediary. The network of computers in a blockchain ensures that each transaction is independently verified by multiple participants, making it difficult to tamper with or manipulate the data. This decentralized nature also makes blockchain more resilient to attacks and censorship. Additionally, blockchain enables peer-to-peer transactions, reducing the need for intermediaries and lowering transaction costs. Overall, blockchain has the potential to revolutionize various industries such as finance, supply chain management, healthcare, and online marketplaces by providing a secure, decentralized, and transparent way of conducting transactions.