What if the Blockchain Network is Hacked?

If a blockchain network is hacked, the extent of the damage depends on the nature of the attack. Developers may need to issue patches or hard forks to resolve security breaches. Users should stay updated on security practices and consider diversifying assets across multiple blockchains.

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Blockchain

Blockchain is a decentralized digital ledger technology that records transactions across multiple computers in a way that makes them tamper-proof and immutable. Each block contains a list of transactions, and these blocks are linked together in a chronological chain using cryptographic hashes. This technology enables trustless and transparent transactions without the need for intermediaries.