The whole blockchain phenomenon started with the success of Bitcoin – a type of digital ‘cash' that uses various cryptographic processes to secure transactions between untrusted third parties, without the need for a central authority or bank.
While the blockchain is indeed a critical part of the Bitcoin security model, it is no silver bullet. The hype surrounding the blockchain buzzword greatly exaggerates what blockchains are, and totally neglects the complex interplay of many critical technology components that work together to make Bitcoin secure.
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