For blockchain, transactions are like logs for social media and internet companies; They serve as a record of specific network activity, with the key difference being that transactions on the blockchain are immutable and are often publicly available and queryable.
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The concept of blockchain was first proposed in Satoshi Nakamoto's Bitcoin whitepaper published in 2008 as the core infrastructure to support cryptographically secure peer-to-peer payments in Bitcoin.
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Blockchain is a virtual machine, a software-based computing model that runs on top of a distributed physical network of computers that anyone can join but is extremely difficult to control by a single entity.
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