Blockchain Fundamentals
Blockchain is a revolutionary technology that’s transforming the way we handle data and transactions. To understand how TON Launchpad fits into this larger picture, let’s break down the key ideas behind blockchain technology in simple terms.
What is Blockchain?
Blockchain is a decentralized system where data is stored across multiple computers, called nodes. Instead of relying on a central authority (like a bank or government), blockchain uses this network of nodes to verify and record transactions. Once a transaction is approved, it’s added to a block. These blocks are linked together in a chain, creating a permanent record of all transactions. This is why it’s called a "blockchain."
Key Features of Blockchain:
Decentralization: In traditional systems, a central entity controls everything. Blockchain changes that by spreading control across many participants, making it more transparent and resilient.
Transparency: Everyone in the blockchain network can view the transactions, making it an open and clear system where trust is built through transparency.
Immutability: Once data is added to the blockchain, it can’t be changed. This means every transaction is permanent and cannot be tampered with, providing a high level of security.
Security: Blockchain uses cryptography to secure transactions, making it extremely difficult for hackers to alter data or steal funds.
How Blockchain Works:
Transaction Creation: A user initiates a transaction by sending data (like cryptocurrency) to another user. This transaction is then broadcast to the entire network.
Verification: The network of nodes works together to verify that the transaction is valid. If a majority of the network agrees that everything checks out, the transaction is approved.
Adding to the Block: Once verified, the transaction is added to a new block of data, which is then linked to the previous block, creating a secure chain of information.
Permanent Record: The transaction is now a permanent part of the blockchain, accessible to anyone with access to the network
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