The Block Chain
Its Bitcoin's general ledger.
The block chain is a linked series of transaction blocks that hold every bitcoin transaction made since the currency’s introduction in 2009. Each block is protected by a hash value to prevent it from being subsequently modified. Furthermore, the hash for each block includes the hash of the previous block. This guarantees the proper ordering of blocks.
Including the hash from the previous block has an additional advantage. The older a block becomes, the more likely that it is secure, since a hacker would have to modify all subsequent blocks in order for the block chain to remain viable.
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