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Block
How it works

Block

A block is a permanent historical record of a group of confirmed transactions. Once added, it cannot be changed or deleted and always references what came before it.

TradFi equivalent
In traditional finance...
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TradFi equivalent
A batch settlement. At the end of a trading period, confirmed trades are grouped and settled together as a batch. A block is the blockchain equivalent. It's a group of confirmed transactions recorded together.
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Analogy
In everyday terms...
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Analogy
A page in a notebook. Each page contains a set of entries, is numbered sequentially, and references the page before it. You cannot remove a page without the gap being immediately obvious.
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