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Blockchain In 1 Minute - What Is Blockchain - Blockchain Explained -How Blockchain Works-SimplilearnIt records and stores every transaction that occurs in the network, essentially eliminating the need for �trusted� third parties such as payment. Learn about blockchain, a type of distributed ledger technology (DLT) designed to make it impossible to hack the system or forge the data stored on it. It is an immutable public digital ledger, which means when a transaction is recorded, it cannot be modified; Due to the encryption feature.