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In recent years, different industries have found other uses for the technology. To explain blockchain in simple terms, it is an immutable record of data which is time-stamped and is managed by a cluster of computers that are not owned by a single entity. The blocks of data are then secured and bound to each other using the cryptographic principles, also known as a chain. There is no central authority in the blockchain network, and it is a shared and immutable ledger, and this information is open for everyone to see. How Blockchain technology works, 7bit casino australia.
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