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1. Blockchain Technology Blockchain is a decentralized, distributed ledger that records transactions across many computers in such a way that the registered transactions cannot be altered retroactively.It consists of a series of blocks, each containing a list of transactions. Each block is linked to the previous one, forming a chain—hence the name "blockchain."This structure ensures that once data is recorded, it is nearly impossible to change it without altering all subsequent blocks, which would require the consensus of the network. 2. Cryptocurrency Cryptocurrency is a digital or virtual form of currency that uses cryptography for security.Cryptocurrencies operate on blockchain technology, which allows for peer-to-peer transactions without the need for intermediaries like banks.Popular cryptocurrencies include Bitcoin, Ethereum, and many others. 3. How They Work Together In a crypto blockchain, transactions are recorded in blocks. Once a block is filled with transactions, it is added to the blockchain.Each transaction is verified by a network of computers (nodes) through a process known as mining or validation.Mining: For cryptocurrencies like Bitcoin, miners solve complex mathematical problems to add new blocks to the blockchain and are rewarded with cryptocurrency.Consensus Mechanisms: To ensure that all copies of the blockchain are the same, blockchain networks use consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS).Once a block is added to the blockchain, the transaction is considered confirmed and cannot be reversed or tampered with. 4. Security The blockchain's decentralized nature makes it highly secure. Since it is distributed across many nodes, it is resistant to hacking and fraud.The use of cryptographic techniques ensures the integrity and confidentiality of transactions. 5. Applications Beyond Cryptocurrency While blockchain was first developed for Bitcoin, its applications go beyond cryptocurrencies. It can be used in various fields like supply chain management, voting systems, and smart contracts. $BNB $BTC $ETH
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Today's trending crypto news includes several significant developments: Bitcoin and Solana Surge: Bitcoin and Solana are experiencing notable gains, with Solana reaching record-high validator tips. This comes as Sonic, a gaming-focused platform, reported over 1 million monthly active users during its testnet phase (COIN360). Toncoin's Rise: Binance has listed Toncoin (TON) and introduced new trading pairs, contributing to Toncoin's surge. This is largely driven by its integration with Telegram mini-games, helping it enter the top ten cryptos with a market cap of $15.8 billion (COIN360). Pacmoon to Solana: The memecoin Pacmoon announced its migration from Ethereum to Solana, rebranding as ARMY. This move caused a significant price increase for PAC tokens (COIN360). Nexera's Security Measures: Following a hack, Nexera burned 32.5 million stolen tokens to enhance security and stabilize the market. This is part of broader security measures across the DeFi sector after several coordinated attacks (COIN360). Russia Legalizes Crypto Mining: Russia has legalized cryptocurrency mining, allowing registered entities to participate under new regulations. This move is part of a broader strategy to integrate crypto into Russia's economy amid Western sanctions (The Block) (Kitco). $BTC $ETH $BNB
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