Can you explain what a blockchain is in simple terms?
An example of an AI chatbot conversation about simplifying technical terms for better understanding.
Can you explain what a blockchain is in simple terms?
Sure! A blockchain is like a digital ledger or record book that keeps track of transactions across many computers.
So, is it like a database?
Yes, but unlike a traditional database, a blockchain is decentralized, meaning no single person or entity controls it.
What does decentralized mean?
Decentralized means that the control is distributed among many users instead of being held by one central authority.
Why is decentralization important?
Decentralization increases security and transparency, making it harder for any single entity to manipulate the data.
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