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RE: BLOCKCHAIN FOR DUMMIES - what would be your explanation? [question from my recent interview]
I believe blockchain should be understood literally as a block chain.
- Blocks are a collection of data whose role is to describe an element or event.
- The chain is the block-binding part, the common part.
- Cryptographic records and a distributed data recording scheme in a decentralized form are used to secure information in the blockchain.
*Decentralized means there is no one place where all data is stored.