as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain what blockchain technology is.
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blockchain technology is a type of distributed ledger technology (dlt) which records digital data in an immutable and secure way. the data, which can consist of cryptocurrency transactions, contracts, or any other information, is stored in a decentralized network and consists of individual “blocks” which are linked and secured through cryptography. this makes it impossible to alter data without detect, as each block is verified by the network before being added to the “chain”.
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