Blockchain technology is the backbone of cryptocurrency, but what exactly is a blockchain, and how does it work? In this video, we'll explain the basics of blockchain technology in a way that's easy to understand for beginners. We'll start by defining a blockchain, a digital ledger of transactions that is open for anyone to view and verify, and how cryptocurrencies, like Bitcoin and Ethereum, are powered by blockchain technology. Lastly, we'll navigate through the specifics of how blockchains work, highlighting the role of decentralized peer-to-peer computers within a blockchain network.

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