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Blockchain is prevalently known as the basic technology behind Bitcoin. Blockchain is a data structure to make, secure and share a distributed ledger of transactions among a network of computers. It enables clients to execute and check transactions quickly without a central authority.
In recent years several consumers, organizations, and institutions have been embracing blockchain technology as it not only decreases transaction costs by removing a point of verification but also speeds up the settlement process.
This infographic is from Fullestop.