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Revolutionizing Marketplaces: Blockchain Fundamentals

Updated: Oct 18, 2023

By Jaya Bijoor

Peer-to-Peer Transactions: All transactions are recorded in a decentralized ledger available to all network participants. Blockchain technology eliminates the need for central

oversight of transactions.

Self-Auditable Records: Transactions are recorded on the blockchain chronologically, and the records cannot be changed (they are immutable) once added to the blockchain.

This eliminates the need for an outside auditor to monitor transactions.

Low-Cost, Fast Processes: Blockchain reduces the cost of energy, speeds up processes, and allows the blockchain to handle both the logistics and payment aspects of energy distribution.



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