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Can the Blockchain Be Hacked?

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For most people who aren’t well versed in the world of bitcoin and other cryptocurrencies, digital coins and the underlying blockchain technology can be really confusing.

Common questions include: What is the blockchain? How do you make coins? How do you verify a coin transaction? Are coins volatile?

Then there’s the battery of questions related to underlying security. Boil it down into a simple question: you might say – can the blockchain be hacked?

We’re not going to go into the whole history of cryptocurrencies here, but at the fundamental level, blockchain is an “immutable ledger” technology where transactions are verified and recorded through a decentralized system.

The idea is that the blockchain holds coins and ownership chains more securely because it is decentralized – in other words, data flow takes place “at the edges” of the network and is rigidly encrypted.

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