blockchain

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The blockchain is seen as the main technological innovation of Bitcoin, since it stands as proof of all the transactions on the network.
A blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order.
To use conventional banking as an analogy, the blockchain is like a full history of banking transactions. Bitcoin transactions are entered chronologically in a blockchain just the way bank transactions are. Blocks, meanwhile, are like individual bank statements.
(Read more: Blockchain Definition | Investopedia http://www.investopedia.com/terms/b/blockchain.asp#ixzz41q2Hrnnm)

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