What is blockchain technology and how does it work

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Blockchain technology has been making headlines lately, and it’s not hard to see why.

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Originally designed to power Bitcoin, blockchain has the potential to disrupt everything from accounting to voting, but it’s not yet clear how best to take advantage of this disruptive technology.

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Blockchains are shared databases. Each party on a blockchain has access to the entire database and its complete history. No single party controls the data or information.

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The first thing to know about blockchain is that there are many different types. Each type has a slightly different use case and fits into a slightly different area of business operations.

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Ethereum is a blockchain platform created by Vitalik Buterin that allows for smart contracts, or code that can execute itself autonomously on its own.

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