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What is blockchain and what is it used for?

Blockchain is an online record of transactions backed by cryptography. It’s at the heart of currencies like Bitcoin and can be used to document financial transactions, the movement of goods or services and or exchanges in information. A blockchain is, very simply, an online record of transactions. They could be transactions for:

What is blockchain the best explanation?

Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).

What can only be achieved with blockchain?

The solution is to have one digital identity associated with a person. It can be achieved with the help of blockchain where a person has only one identity in the whole network. There are many benefits of using digital identity, including no need to carry documents.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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