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Narrowly speaking, blockchain is a chain-like data structure that combines data blocks in a sequential manner according to time order, and guarantees the immutability and forgery prevention of a distributed ledger using cryptography. Broadly speaking, blockchain technology is a new distributed architecture and computing method that utilizes chain-like data structures to verify and store data, generates and updates data using distributed node consensus algorithms, ensures the security of data transmission and access using cryptography, and programs and operates data using smart contracts composed of automated script code.

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