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Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.

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A blockchain is a digital, append-only list of data records, and a type of distributed database. The records are called blocks, which are organized in chronological order and are linked and secured using cryptography. Once recorded, a block cannot be altered retroactively without alteration of all subsequent blocks. Blockchains are typically used as a decentralized distributed ledger, responsible for recording all previously confirmed transactions. Public blockchains are distinct from databases on centralized environments such as Amazon Web Services (AWS) in several key respects: blockchains have no central point of failure for technical or legal breaches, provide permissionless access to anyone with an internet connection, and reliance on incentive mechanisms rather than legal liability or corporate goodwill to maintain the integrity of the ledger.