What is a crypto ledger and how does it work?

1 answers

• Dec 16, 2021 · 3 years ago
  A crypto ledger, also known as a blockchain, is a digital record of all transactions made with a specific cryptocurrency. It works by using a decentralized network of computers to verify and record transactions in a secure and transparent manner. Each transaction is grouped into a block, which is then added to the chain of previous blocks, forming a chronological and unchangeable ledger. This ledger is maintained by a consensus mechanism, where participants in the network agree on the validity of transactions. This ensures that the ledger is reliable and resistant to manipulation. In the world of cryptocurrency, the crypto ledger plays a crucial role in ensuring the integrity and security of transactions, making it an essential component of the digital economy.
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