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 a blockchain is in simple terms.
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a blockchain is a type of digital ledger that records transactions in a secure and immutable manner. it is a distributed system, meaning that it does not rely on any single entity for data storage. each transaction is stored in a block and the blocks are strung together and secured cryptographically, forming a chain of blocks. this chain of blocks allows for a distributed and tamper-proof system of record-keeping, making it a secure and reliable way of storing and transferring data.
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