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Blockchain is a decentralized database that administers transactions with the digital currency bitcoin. Here, single or multiple transactions are bundled into data blocks and validated by means of checksums. The joint data blocks form the block chain. Over the Bitcoin Core software all members of the community can download and regularly update the database.

Term-Nr.: 130

German: Blockchain (189)

Source: Fintech-Hub m. e. E., 29.05.2019

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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