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What is a Blockchain? - A study case of NEMCOIN.


A ‘Blockchain’ is sort of like that piece of paper in a checkbook that allows you to keep track of everything. The NEM ‘Blockchain’ keeps track of how much was spent, with whom, on what day, and even keeps track of the exact time. Now imagine if everyone in the world shared a piece of paper like this. It has everyone's spending on it. If you make changes everyone can see it, but you can only make changes if everyone agrees that this change actually happened. Everyone, at any time, can look at it and check to make sure it's right. Now, we all agree that this piece of paper is right. Usually, 'Blockchains' keep track  of who owns what money and when it is moved around. In NEM, this is still true - but NEM also keeps track of other kinds of things.




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